Overview of E-invoicing

Activate E-Invoice Service in Marg Wallet

Process To Create Credit Note E-Invoice In Marg Erp Software

Note: With effect from 15 June 2024, it's mandatory to Activate E-Invoice Service in Marg Wallet for generating it.

OVERVIEW OF E-INVOICING

• Electronic Invoicing (e-Invoicing) is a system in which Business-to-Business (B2B) invoices, Export invoices & Invoices of Credit/Debit Notes of Registered parties are validated electronically by GSTN for further use on the common GST portal.
• The main objective behind the introduction of e-invoicing by the tax departments is to ease the whole process of invoicing i.e. to reduce all the reconciliation problems related to data and auto-populate the returns that will help the taxpayers to easily get the Input Tax Credit.

• CBIC has announced that from 1st Aug 2023 onward, E-invoicing is mandatory for all taxpayers having aggregate turnover above Rs 5 crore in any of the previous years from 2017-18 onwards.
• Starting December 15, 2023, e-Invoices will require a minimum 6-digit HSN for taxpayers with an annual Aggregate Turnover of 5Cr and above.

ACTIVATE E-INVOICE SERVICE IN MARG WALLET

Note: Firstly, the user needs to Activate Marg Wallet.

• Go to Digital > Marg Wallet > Activate Services.

• Now the user will place a check mark on 'Auto E-Invoice' service.
• Click on 'Submit' button.

PROCESS TO CREATE CREDIT NOTE E-INVOICE IN MARG ERP SOFTWARE

• Go to GST > Generate eInvoice.

• In 'Period' field, the user will mention the date range for which the invoices need to be viewed.
• Click on 'Show'.

• In 'Filter' option the user will select 'Pending'.

• The user will select the invoice and click on 'Generate eInvoice'.

• Select the 'More' option to edit the Buyer's and Seller's details.

• Click on 'EWay' button to mention e-way bill details if required.

• Now click on 'Generate eInvoice' button.

• An alert message of 'e-Invoice Successfully Uploaded' will appear along with the Acknowledgement No. and Date.
• Click on 'OK'.

• Another alert of 'Wish to Print e-Invoice' will appear.
• Click on 'Yes' to print e-invoice.

• Thereafter, the user can print e-Invoice as per the requirement.

After following the above steps, the user can generate e-Invoice of Credit Note through Marg Wallet.