E Invoicing in Finsys ERP
From 01-01-2021, e-invoice becomes mandatory for you if your FY 19-20, turnover was Rs 100 crores and above,
Finsys & Webtel
*Making Business Better*
Contact persons :
Prerna Srivastava – 7042508181
Nisha Arora – 9312931103
Last Date for Webtel Linking, smoother and for ease in work, for time for Testing and assured service, and for avoiding the last minute problems :
10th December 2020
Extract of the Government Notification
Government of India | Ministry of Finance | (Department of Revenue) | Central Board of Indirect Taxes and Customs
Notification No. 88/2020 – Central Tax, New Delhi, the 10th November, 2020
G.S.R……(E). – In exercise of the powers conferred by sub-rule (4) of rule 48 of the Central Goods and Services Tax Rules, 2017, the Government, on the recommendations of the Council, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 13/2020 – Central Tax, dated the 21st March, 2020, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 196(E), dated 21st March, 2020, namely:-
In the said notification, in the first paragraph, with effect from the 1st day of January, 2021, for the words “five hundred crore rupees”, the words “one hundred crore rupees” shall be substituted.
Director, Government of India
Note: The principal notification No. 13/2020 – Central Tax, dated the 21st March, 2020 was published in the Gazette of India, Extraordinary, vide number G.S.R. 196(E), dated 21st March, 2020 and was last amended vide notification No. 70/2020-Central Tax, dated the 30th September, 2020, published vide number G.S.R. 596(E), dated the 30th September, 2020.
E invoices is a success story already in many countries of the world. E Invoice also became a success for the mandated Rs 500 Crore plus category in India, w.e.f. 1 October 2020.
Now, it is going to be started as compulsory for the businesses with turnover from 100 crores upwards per year . This is w.e.f. 1-1-2021
Note this Rs 100 Crores, is basic turnover all branches, all factories taken together
We at Finsys, are helping our customer be successful, always… in every Statutory change and reform. Finsys is geared up for the E invoice using the Webtel Engine, firmly behind it.
Finsys integrated with Webtel e-invoicing Tools, is a very simple and fast success process. You can make your E Invoice, Debit Note, Credit Note, according to the E invoicing Schema given by the IRP – GSTN , Govt of India, without any problem.
The data goes to the GST Portal / the IRP = Invoice Registration Portal (IRP).