Auto Population Of E Invoice Details In GSTR 1

NOIDA, India - Nov. 23, 2020 - PRLog -- India, 23 November 2020

Taxpayers with an annual turnover of more than INR 500 crores had to implement the e-Invoicing process mandatorily from 1 October 2020. Furthermore, the CBIC has notified that from 1 January 2021, taxpayers with an annual turnover more than INR 100 crores have to adopt the e-Invoicing system as well.

The details furnished in the e-Invoices are based on a schema issued by the Government. This ensures that all taxpayers provide the required information in a uniformed format. To link the GST return filing process with the new invoicing system, the Government has announced that it will modify the GSTR-1 dashboard with the required tabs/labels and auto-populate the available details.

The details that will be auto-populated from the e-Invoice are:

●     Taxable outward supplies made to registered persons (other than reverse charge),

●     Taxable outward supplies made to registered persons attracting reverse charge,

●     Export supplies,

●     Credit or debit notes issued to registered persons, and

●     Credit or debit notes issued to unregistered persons.

For November 2020, these details will be auto-populated into the GSTR-1 by 2 December 2020. Taxpayers can download the details of October 2020 from the GSTR-1 dashboard.

Note: In case the GSTR-1 for any corresponding period was already filed by the taxpayer, then, the details from e-Invoices can be downloaded as an excel file only.

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