Now more ease in GST e-invoicing generating services to large tax payers. Clear Channel has opened its invoice registration platform (IRP), businesses throughout the nation can produce their electronic invoices for the goods and services tax (GST).
Previously, only the NIC site could be used by businesses to generate these invoices. On the other hand, the GST Council had advised GSTN to introduce e-invoice registration services through private IRPs earlier this year.
For the provision of these services, GSTN appointed Clear, Cygnet, E&Y, and IRIS Business Ltd. as private contractors. One of these, Clear, has just started offering IRP services.
The government anticipates that private IRPs will produce a sizable volume of electronic invoices.
“With capability for both the biggest and smallest enterprises as well as for technology companies serving India, Clear will create the greatest system imaginable. Our platform will make operational challenges simpler and enable seamless tax compliance “The business stated.
“This infrastructure will be mostly digital and hence economical, scalable, modern, safe, and omnipresent at the same time,” said Archit Gupta, founder and CEO of Clear. To make this goal a reality, the government is forming a fantastic relationship with private parties.
Gupta continued by saying that these technological advancements will make doing business easier and foster creativity at both the personal and corporate levels.
Businesses and other taxpayers are required to produce e-invoices for B2B transactions if their yearly revenue exceeds Rs 10 crore. All B2B invoices are uploaded to the IRP using the e-Invoice system. An individual Invoice Reference Number (IRN), digitally signed e-invoice, and QR code are generated and provided to the user by the IRP.