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Follow on Google News | Auto Population Of E Invoice Details In GSTR 1On 13 November 2020 the Government announced that the details available in the e-Invoices would be auto-populated in the respective tables of the GSTR-1 of the taxpayer.
By: Masters India Pvt. Ltd. Taxpayers with an annual turnover of more than INR 500 crores had to implement the e-Invoicing process mandatorily from 1 October 2020. Furthermore, the CBIC has notified that from 1 January 2021, taxpayers with an annual turnover more than INR 100 crores have to adopt the e-Invoicing system as well. The details furnished in the e-Invoices are based on a schema issued by the Government. This ensures that all taxpayers provide the required information in a uniformed format. To link the GST return filing process with the new invoicing system, the Government has announced that it will modify the GSTR-1 dashboard with the required tabs/labels and auto-populate the available details. The details that will be auto-populated from the e-Invoice are: ● Taxable outward supplies made to registered persons (other than reverse charge), ● Taxable outward supplies made to registered persons attracting reverse charge, ● Export supplies, ● Credit or debit notes issued to registered persons, and ● Credit or debit notes issued to unregistered persons. For November 2020, these details will be auto-populated into the GSTR-1 by 2 December 2020. Taxpayers can download the details of October 2020 from the GSTR-1 dashboard. Note: In case the GSTR-1 for any corresponding period was already filed by the taxpayer, then, the details from e-Invoices can be downloaded as an excel file only. ____________________________________________________________ About us Masters India is a GST Suvidha Provider (GSP) appointed by the Goods and Services Tax Network (GSTN), a Government of India enterprise. We offer tax and financial automation products to enterprises. Know more about us here: https://www.mastersindia.co/ End
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