Synopsis
Having an e-invoice which is validated by the GSTN ensures that the GSTN system captures at the incipient invoice generation stage, all supply transactions on which input credit can be availed of by a buyer of goods and services.
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Underscoring government’s efforts to promote a digital economy, e-invoicing provides for retention of records in a cloud environment and thus supports a clean environment as printed invoices can literally be done away.
The government’s move to introduce e-invoicing as a mandatory part of the GST landscape has improved compliance and boosted GST collections while also transforming the transactional landscape of India’s commercial economy into a digital and transparent system.