E Invoice Countdown — Are you really ready ? Most important suggestions + Youtube by Finsys ERP dt 17th Dec 2020 Are you Ready ? Finsys ERP dt 17th Dec 2020
This is important communication for you, if your company’s Turnover was over Rs 100 Crores in FY 2019-20.
Non-issuance of e-invoice is an offence under GST and thus attracts penal provisions. Some of the penalties for non-issuance of invoice or issuance of incorrect invoice are as follows
Penalty for non-issuance of invoice : 100% of the tax due or Rs.10,000, whichever is higher.
Penalty for incorrect invoicing is Rs.25,000.
First : Placing the Order
Have you given the PO and Advance for the Finsys – Webtel E invoice solution ?
If not, please hurry up.
Normally, 15 days are required for proper delivery.
And you are almost already late.
We have kept 5pm on 20-12-2020 as the last time for the official formal orders coming in with proper confirmation and proper advance. We shall not be able to guarantee delivery to those cases which come after this cut off date/time.
Second : Cleaning your Database
There is a compulsory List of requirements … by the Govt GST and IRN Portals. You have to use the following as per Govt Standard Operating Procedure and Standard Acronyms only
So,
if KGS is written as kilograms, or Kilo, it will be REFUSED
if LITRE should be written as LTR, if it is written as LIT, or LITR, it will be REFUSED
similarly, if Currency of USD is written as $ it will be refused
if country code for United Arab Emirates is UAE, instead of AE, it will be REFUSED
if Port code for Tughlakabad is not INNDP1, it will be REFUSED
How will you make your E invoice ?
Are you Ready ?
Short summary
State Codes. = as per Govt SOP only
Unique Quantity Codes(UQC) = as per Govt SOP only
Port Codes = as per Govt SOP only
Country Codes = as per Govt SOP only
Currency Codes = as per Govt SOP only
Who is responsible ? All these are dependent .. internal by your Accounts team only
All, pls take caution
and expedite the correctness
else your invoice’s IRN will not be generated by the PORTAL
Please treat this as MOST urgent
and get this certified by your GST Auditors Team
E-invoicing Implementation is not possible until below mentioned requirements are incorporated/corrected in system.
For details,
https://einvoice1-trial.nic.in/Others/MasterCodes
Training Session on the E-Invoices in Finsys ERP
