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All about the First Invoice Registration Portal | einvoice1 – einvoice1.gst.gov.in

Know all the details about the first invoice registration portal, mentioned in detailed here in this blog. Read to know more

A website known as einvoice1-gst.gov.in the First Invoice Registration Portal has been launched to generate invoice reference numbers, and the main objective is for the smooth functioning of the goods and service tax. The E invoice reference number helps track and upload the e-invoice in the GST by the taxable individuals. If you want to use this e invoice portal, then being a taxpayer, your annual aggregate turnover should be more than INR 500 crores.

The e-invoice is applicable since 1st October 2020 under GST. The facility was then extended for taxpayers, with annual aggregate turnover falling from INR 100 crores to INR 500 crores from 1st January 2021. The website’s main features in clothes are uploading all the bulk invoices and tracking similar invoices. It aims to make the GST records better for huge businesses.

What Do You Need To Know About The E Invoice Under GST And Some Prominent Features?

E-invoice is a type of electronic invoice which is received, issued, processed, or even stored digitally or electronically. The need for e invoices under GST registration has been raised after understanding the complications involved in GST record keeping and the filing process of the returns for taxpayers under GST. Several features are introduced for the burden of tax evaluation while keeping the records is significantly minimized through e-invoicing.

The Main Areas Where The E-invoice Aims To Be As Follows:

  • It aims to make the invoices a significant part of the process of business.
  • It aims to eliminate generating fake invoices for input tax credits.
  • The e invoice also helps reduce fraud by duplicating some of the invoices.
  • The e invoice helps in resolving all the consolation issues.
  • You can easily track your invoices with the invoice and also upload the invoices in bulk.
  • The multiple software and systems can read the format as there is a standardized format for all the invoices.
  • With the E invoice, the manual data filing error is reduced to a great extent, and it also allows pre-population of data in GST Returns.

What Is The Content Of The E-invoice Website?

The Home Tab:

On the home tab, you can go through all the subfields accessible. It features a contact detail help section for the registration, the latest updates search for some features, and an introduction to the law. You can choose the homepage if you want to return to the main page from any website page.

Laws


Under the law section, you can review the rules and the notification regarding the e invoice. The rules include the link to the central board of indirect tax and the customs duty official e invoice portal. You can go through all the laws and regulations regarding indirect taxes. The notification option features notifications released from time to time by the government. You can always check the date and notification number for quick reference.

Help Section

The help section includes the user manual, which features two areas. One is the general guide, which you can go through as a general taxpayer. While on the flip side, you can check another guide that features all the processes for a bulk generation or cancellation. It is a helpful guide that features all the essential elements about the website, the history behind the move of the e invoice applicable under GST Certificate, and a guide for introduction besides the website usage.

Videos are also applicable; you can go through the short videos to help you use the website.
The FAQS is also available on the website, which features legal and procedural elements and deals with portal or technological-related matters.

Procedure Element Of E-invoicing Under GST


The invoice reference number is available, the unique number generated by the e-invoice system that relies on the hash generation algorithm. The outstanding invoice reference number would be compounded as per the documents of the goods and service tax identification number. The generator of the paper can also create the invoice reference number of the choice in the given format.

The QR code will rely on the GSTIN invoice number, which is given by the supplier invoice date generation invoice value, and the number of line items unique IRNS.

Register on the E Invoice System

if you want to register on this GST portal login, you need to have a registered GSTIN and your registered mobile number. You can also use the same credentials if registered on the e-way bill already. You can click on the registration e invoice portal, enter your GST number, and see the details uploaded automatically.

You can click on the option to send OTP if you feel that all the details are perfect. You can also change your password. At the same time, you can reset your username by clicking on the option to forget your username.

Lastly, you need to know that GSTIN and registered numbers are only allowed to proceed ahead.

E invoice Login

You need to be registered on the einvoice login portal or the e-invoice portal to log into the einvoice  login system. You can use similar login details for both logins. You need to enter your username and password to be logged into the portal. The dashboard will appear where you can go through all the menus on your left-hand side, and then the IRN will be generated or canceled.

Business Benefits of E-invoicing

GSTN’s e-invoice initiative will benefit businesses in the following ways:

  • To reduce mismatch errors, GST e-Invoice resolves and plugs a major gap in data reconciliation.
  • Interoperability and reduced data entry errors are achieved by reading e-Invoices generated on different software platforms.
  • Using e-invoices, suppliers can track invoices in real time.
  • Integration and automation of GST return filing process – invoice details would be auto-populated in the various returns, especially for generating part-A of e-way bills.
  • Genuine input tax credits are available faster.
  • Due to the fact that tax authorities are able to access transaction-level information, audits and surveys are less likely to occur.
  • Small businesses should have faster and easier access to formal credit routes, including invoice discounting and financing.
  • The prospect of small businesses doing business with large corporations has increased due to improved customer relations.

Conclusion

Hence e-invoice one is a portal that is mainly developed to streamline the E invoice system for all the dealers, and the tax authorities can keep track of all the invoices through the QR or DIRN code. But the amendments to the E- invoices must be done through the GST common portal only while filing your GST return. Before you file the GST, you should know the logins to all the portals mentioned above.

Looking forward to getting more insights on einvoice portal login einvoice1.gst.gov.in? Vakilsearch is the best option. The team has a bunch of professionals who will help out in the best way possible.

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