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e-Invoice is a concept in which all B2B invoices are electronically uploaded by the supplier and authenticated by invoice registration portal (IRP) with an IRN and QR code. The supplier should print the IRN and QR code on the invoice before issuing it to the buyer. Currently, e-invoicing is applicable for businesses with an annual turnover exceeding 10 crores. From 1st August 2023, e-invoicing is essential for all the registered persons whose aggregate turnover (based on PAN) in any prior fiscal year from 2017-18 onwards exceeds the 5 crores.
To help businesses to generate e-invoices, NIC has released an application known as ‘GePP-On’. To generate e-invoices using GePP-on application, you need to enter the invoice details in the form designed in the application.
Following are the features of GePP-On:
Currently, the beta version of GePP-On is released for businesses who are enabled for e-invoice generation. These businesses can use the existing login credentials to access the application. Shortly, the final version of GePP-On will be made available.
Download link to GePP: https://einv-apisandbox.nic.in/gepp/#/
The efforts to release of GePP-On application for e-invoice generation is a welcome move, not only for businesses that are already enabled for e-invoicing but also would benefit many small businesses in the coming days, when more businesses are brought under the ambit of e-invoicing.
The availability of e-invoice generations tools like GePP-On and the existence of business management/accounting software might put you in confusion, whether to use to e-invoice tools or business software with e-invoice generation capability. To help you make a better choice, we have put across the business type to whom GePP-On will be useful and how business management/accounting software can help.
Best e-Invoicing Software Solution for Businesses in India | Generate e-Invoice Instantly in TallyPrime |
For businesses with fewer invoices, this will be helpful since they can generate e-invoices without going for any API integration. If you have a few invoices per day, you can manually mention the invoice details on GePP-On and generate an e-invoice. However, businesses should also make a note that this tool will only help in generating e-invoices. Managing books of accounts should be taken care of using accounting software or any other way that you are currently using.
Apart from e-invoice generation tools like GePP-On, there is business management/accounting software that comes with fully connected capabilities to generate e-invoices and e-way bills. Such accounting software not only helps you generate e-invoice instantly but also plays a key role in managing books of accounts in an integrated manner, ensuring your books and compliance are always in sync.
Using accounting or business management software, the only thing you need to do is record invoices. Based on the invoice details, your accounts are prepared, inventory is updated, and compliance data is ready. Thus, your invoicing, accounting, inventory, and compliance are always in sync with each other. When this happens, you can be assured that your financial reports give you a wholesome view of your business
Tally Prime is a business management software that integrates the accounting, inventory and compliance needs of the business. With TallyPrime’s connected services, you can automatically generate e-invoice and print IRN & QR code on the invoices, without manual intervention. TallyPrime also supports the bulk generation of e-invoices for multiple invoices.
While TallyPrime comes with an in-built capability to generate e-invoices, you can also manage invoicing, accounting, inventories, banking, taxation, payroll and much more in an integrated manner
No doubt, GePP-On will be a great help to businesses. We recommend you consider the volume of invoices and the need of managing books in an integrated manner as key factors and make a choice that best suits you.
Know more about e-invoices in GST
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