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With the concept of e-Invoicing, an invoice is valid only if the “IRN’ and QR code is mentioned in the invoice. Invoice being an important document in business, it is of utmost necessary to understand the fundamentals of IRN and the change that may be required in the way the invoices are issued.
As per the latest update, e-invocing will be applicable for businesses with a turnover of ₹50 crores and more, from 1st April,2021. Read 'Date of implementing e-invoicing in GST' to know the e-invocing implementation date.
In this article, we’ll discuss everything about IRN right from its meaning, format and how to generate it.
IRN known as “Invoice Reference Number” is a unique invoice number generated by the Invoice Register Portal (IRP) on uploading the invoices electronically.
Under the e-invoicing system in GST, documents such as invoice, Credit Note, Debit Note or any such document as required by the law should be electronically uploaded to IRP system. Every time a unique document is uploaded in the prescribed format, a unique reference number know as 'Invoice Reference Number (IRN)' is generated by the system.
IRN is also referred to as ‘Hash’ in technical terms.
The IRN is computed considering the GSTIN of a generator of the document (invoice or credit note etc.), document number like invoice number and the financial year.
The responsibility of generating e-invoice with IRN is with the creator of the document. To simplify, the responsibility of uploading tax invoice is with the supplier of goods or services. The IRP system, a portal designed to authenticate invoices, will accept invoices only in JSON format in a specified structure/schema.
To generate e-invoice IRN, you need to follow the steps given below:
If you are using a business management software that is integrated with the IRP portal (via GSP to IRP), generation of IRN and QR code, and printing these details on the invoice becomes simple and seamless. It will be that simple that you just need record and print the invoice in the flow and you will have IRN and QR code printed automatically.
To Know more read How does e-Invoice System Works?
Know More about Invoices in GST
E-Invoice in GST, How to Generate E-Invoice in GST, How to Transit to E-Invoice System, Who Should Issue an E-Invoice in GST, Working of E-Invoice System, Date of implementing e-invoicing in GST, Generate e-Invoice Instantly in TallyPrime, Business Impact of e-Invoice, How to Generate Bulk e-Invoice in TallyPrime
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