STEPS FOR ROLL OUT OF E-INVOICE

STEPS FOR ROLL OUT OF E-INVOICE

e-invoicing in GST

➢ What is an e-invoice?

Issue of a tax invoice in an electronic format to the recipient and validated/authenticated by the tax administration before it is transmitted to the receiver.

➢ What are the benefits of e-invoice?

•  Standardization
• Eco-friendly
• Automation
• Real-time flow of information
• Lesser compliance cost & burden

Related Topic:
Accounting procedure of e-commerce operators and applicability of sec 52 of GST (TCS)

Points to be considered

Cost: Cost-Benefit Analysis has to be done for all the options and the most viable for the organization should be adopted

Number of Invoices: Quantum of invoices being generated will play a key role in the decision-making process

Number of Locations: the number of locations from where the taxpayer operates also determines.

Network Connectivity: Are there any network issues or a dedicated lase line to be purchased or any other alternatives to be explored

Complexity: Can the Accounting or ERP be easily integrated or requires a patch from the OEM.

Number of Users: Number of users and the qualification of the users also

DECODING THE PROVISIONS

➢ Evaluate the requirements like

• To whom it is applicable
• Which set of transactions
• Effective date
• Which set of documents
• Any gaps in the interpretation
• If required hire external agencies

Impact Analysis

➢ Impact analysis has to be carried out in the following areas

• Impact on transaction processing
• Impact on the current architecture of the product
• Impact on the SOPs
• Impact on the business process
• Impact customizations if any?
• Cost of implementation
• Cost-benefit analysis of customization or third party solution or OEM patch or inhouse development

Implementation Strategy

➢ Implementation strategy

• Inhouse or outsourced
• OEM Solution or third party solution or in house solution
• Allocated dedicated team
• Take budgetary approvals for the cost
• Have a sandbox environment or testing environment
• Detailed test plan for all business cases
• Check the connectivity if multiple locations are involved

Rollout

➢ Rollout strategy 

• Execute all the test scripts and see if they are giving desired results
• Verify if all the required data is stored in the system for future reference
• Printing stationery to be modified accordingly
• Verify the updated SOP documentation
• Verify if the print of the tax invoice is proper or not
• The support team for initial days to meet any glitches
• Continuous monitoring for new Jason scheme or changes in APIs

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