How to Online and Offline e-Invoice Generation on IRP Using TallyPrime?
E-Invoicing is a system that allows the Invoice Registration Portal (IRP) to authenticate B2B invoices and credit Notes, debit notes (Transactions that affect your sales account) and all kinds of export invoices(Export Taxable, Export Lut Bond, Export exempt and nil rated) electronically. Accordingly, TallyPrime is here to provide a smooth e-invoicing experience for you and your business. Once your e-invoice is ready, the details should be reflected in GSTR-1.The GST Council, in its 39th meeting, has decided to implement a system of e-invoicing, which will be applicable to businesses having a turnover of more than 500 crores, effective from 1st October 2020, and to businesses having a turnover of more than 100 crores, effective from January 1, 2021. The GST council decided which businesses having a turnover of more than 50 crores, effective from April 1, 2021. Accordingly, TallyPrime’s e-invoice solution can be used by taxpayers, tax consultants, and other eligible entities. The experience is simple and is based on regular invoicing activity that does not require any special expertise.
(a) Register on E-invoice Portal or IRP (Invoice Registration Portal).
➤ Portal Login.
(II) Kindly Enter the GSTIN of your business in the following e-Invoice Registration Form, followed by the CAPTCHA code, and click Go.
(III) Enter the Company details, as required, and click Send OTP to verify the details. After That Enter the code received on your registered mobile number and click Verify OTP.
After verifying the OTP, you will be asked to enter a Username and Password to create your login credentials. Confirm and save the details.
(b) Create API(Application Program Interface) User Profile
(VI) Select Tally (India) Private Ltd in the Select your GSP field.
Enable E-Invoicing in TallyPrime
- Applicable from:– Set the date from which your transactions will be applicable for e-invoicing.
- Bill from place:– Specify the location where your supplies are billed from. Depending on your business operation, this can be either the same or different from the location where your supplies are shipped from.
- Default period for the e-Invoice report:– Set the period for which the e-Invoice report will display the transactions. This will be set to 3 days by default, as per department regulations, which state that E-invoices must be generated within 72 hours of billing. However, TallyPrime will allow you to set a period between 1 and 31 days, as per your business requirement.
- Send e-Way Bill details with e-Invoice:– TallyPrime provides you with the option to generate your e-Way Bill along with your e-invoice. If it would be beneficial for your business to send these details together, then you can enable this option.
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