What is e-Invoicing Under GST?
Now, E-invoicing under GST is mandatory for businesses with a turnover of more than Rs.20 crores in a financial year. Hylobiz enables e-invoicing on its platform to help businesses in becoming e-invoicing compliant.
From 1st April, E-invoicing under GST is mandatory for businesses having an aggregate turnover of more than Rs.20 crores in a financial year.
E-invoicing is a document shared by the seller to the buyer after validation from the GSTN portal. Under E-invoicing, a seller uploads the data on IRP and receives an e-invoice with IRN and QR code.
E-invoicing will help businesses streamline the invoicing process, reducing fraud and errors. It will also make them ready for better compliance by freeing up their employee’s time.
What are the benefits of e-invoicing?
E-invoicing is beneficial for businesses because of many reasons:
- Brings uniformity
- Faster ITC claims
- Reduces fraud and errors
- Curbs tax evasion and fake invoices
- Easy reconciliation and minimizes data entry error
- Enables real-time tracking of invoices
Hylobiz enables e-invoicing on its platform to help businesses become e-invoicing compliant under GST.
Generate an e-invoice with our top-class features and highly secured platform. Some of our top features are:
- Quickly generate an e-invoice in a few simple clicks.
- Easily integrate your existing ERP in the lowest set-up time, with no process change requirement.
- Improve your business relations with our digital and shareable ledger.
- Make informed business decisions with the help of our dashboard.
Hylobiz digitizes your business receivables and payables and improves your business collection efficiency. Also, create an invoice/e-invoice with attached payment links and send automated payment reminders.
Easily manage your inventory digitally on our platform and optimize your operational costs. Avail of easy business loans to boost your working capital.
Now collect your payments and pay your vendors in a breeze with our connected banking services. If you are a Kotak Mahindra Bank and YES Bank, customer, log into your bank account on our platform and enjoy savings in cost.
We are an ISO-certified platform and maintain bank-grade security to make your transaction safe and secure. We apply multiple encryptions to your transactions to make them safe and secure.
If you’re a business and looking for a reliable e-invoicing solution. Onboard on Hylobiz today.
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Suggested Read: https://hylo.biz/how-do-neobanks-in-india-works/
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