E-Invoice Schema Format – Mandatory Fields

E-Invoice Schema Format – Mandatory Fields

• On 30th July 2020, the Central Board of Indirect Taxes and Customs (CBIC) released a notification and introduced the “Schema for E-Invoice” for imposing the e-invoicing.
• It will be implemented from 01st October 2020, only for entities whose business has an annual turn over of ₹500 Cr.

What is E-Invoicing?

• E-Invoicing or Electronic Invoicing is a system in which B2B invoices are electronically sent to other parties by GSTIN.
• Under the e-invoicing system, an identification number will be issued against every invoice by the Invoice Registration
  Portal (IRP) to be managed by the GST network(GSTIN).
• All the information will be transferred from this portal to both the GST portal and the e-way bill portal.
• The registration is required because through the registration IRN no should be given to the person.
• A tax invoice will not be considered valid if IRN is not mentioned on it, as IRN no is mandatory.
• The Invoice Registration Portal will generate IRN no and send it back to the taxpayer, who print this no on his tax invoice.

Related Topic:
E-invoicing in India!

Persons who are exempted from E-Invoice

• Special Economic Zones, (SEZ)
• The insurer, Banking Co., any Financial Institution, and Non-Banking Financial Institution.
• Goods Transport Agency
• Passenger Transportation Services.

Supply Type Code

• B2B:- Business to Business
• B2C:- Business to Customer
• SEZWP:- to SEZ with payment
• SEZWOP:– to SEZ without payment
• EXPWP:- Export with Payment
• EXPWOP:- Export without Payment
• DEXP:- Deemed Export

Document Type Code

• INV:- for Invoice,
• CRN:- for Credit Note,
• DBN:- for Debit Note

Mandatory Fields

1. In Documents

• Document No. should be required.
• Document Date should be in “DD/MM/YYYY” this format.

2. Suppliers Information

• Suppliers Legal name as per PAN Card.
• GSTIN of the Supplier.
• Suppliers address and place
• Suppliers State Code and Pin Code.

3. Recipients Information

• Recipient Legal name as per PAN Card.
• GSTIN of Recipient.
• Place of Supply (State Code).
• Recipients address.
• Recipients place and State Code.
• Invoice item details
• Item list
• Documents Total.

1. These are the general details that are mandatory to file on E-invoice.
2. The Total Taxable Value should be in INR.
3. If all the details should be correct, the NIC portal will validate and provide IRN no to the taxpayer.
4. Otherwise, NIC will give an error message.

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