Direct electronic sales invoicing
Electronic invoice solutions must include vendor inbox to customer inbox. Both parties must use the same software or standard format to exchange electronic messages. Alternatively, they can both use a third-party service provider.
Reliable audit trails for paper and electronic invoices are required for authenticity of origin, integrity of content, and legibility of invoices.
India specifics
The GST Council requires electronic invoicing and pre-approval by the tax authorities for all B2B transactions. After B2B transactions are successfully established, there will be a requirement for B2C transactions.
The reporting requirements include submitting sales invoices in real-time to the tax authorities for verification and clearance. Only then will the sales invoice be raised for GST and settlement purposes and sent to the customer as approved. The sales invoice is assigned a unique government number. This is reported in the regular GST return to match with the submission.
Suppliers are required to submit their e-invoices in real-time using the GST Network. For Indian e-invoicing, GSTN may adopt the same process as the e-way bill regime that is used by businesses to report the movement of goods over intra-state borders.
Tax invoices and bills of supply must include a Quick Response (QR) code that is effective from a date required by the tax authority (CBIC).
How Infor meets the requirement
This requirement is not currently supported by this ERP for this country.