Union Budget 2020


Integration of E-invoicing with new GST compliance system

One stated objective of the new e-invoicing rules is to replace the current manual reporting processes by an automated procedure that boosts the GST return filing process. Currently, GST return filing involves enormous manual work including the ITC reconciliations which are prone to errors. Invoices for which IRN is generated will now get auto-populated in the GST ANX-1 for supplier and GST ANX-2 for recipient which will make the overall process easy, fast and accurate.

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