What is e-Invoicing in TallyPrime ?
e-Invoicing is a system that allows the Invoice Registration Portal (IRP) to electronically verify B2B invoices. Accordingly, e-invoicing in TallyPrime provides you with a smooth experience to configure and generate e-invoices for your business. Once your e-invoice is generated successfully, the details of the e-invoice will reflect in GSTR-1.
TallyPrime’s e-invoicing solution can be easily used by all eligible entities such as taxpayers and tax consultants. In TallyPrime, you only have to record your sales transactions, as usual, and your e-invoice requirements will be covered in the same flow! Important details, such as IRN, Ack No., QR code, and e-Way Bill no., will be updated in the vouchers automatically, and you can proceed to print them. Moreover, TallyPrime will ensure that both your business and your compliance requirements are suitably addressed.
TallyPrime also provides you with the flexibility to generate e-invoices in bulk for multiple invoices. You can select one or more transactions from the e-Invoice report and generate the respective IRN, at your convenience.
Moreover, if you are using TallyPrime Release 3.0 or later releases, then you can generate e-Invoices for any GST registration or GSTIN during voucher creation or multiple GST registrations through Exchange by selecting multiple vouchers created for different registrations.
All the requests for online e-invoicing will pass through Tally GSP (TIPL), which has been awarded ISO 27001:2013 certificate for its stringent security policies. The best part is that you will not need any additional software or plugins to enjoy the benefits of e-invoicing in TallyPrime.
Additionally, TallyPrime supports an offline mode of e-invoicing by exporting invoice details in a JSON file, ensuring flexibility in generating and managing e-invoices. The software also provides features for bulk e-invoicing, generating e-way bills alongside e-invoices, and comprehensive e-invoice reports to track transaction status effectively. Overall, e-invoicing in TallyPrime streamlines the invoicing process by automating the generation of e-invoices and ensuring compliance with relevant regulations.
Who must register for e-invoicing?
Ever since the inception of e-invoicing, the Government of India has been rolling out this regulation in a phased manner. Below is the timeline of the mandatory implementation of the e-invoicing and the most recent update as of August 2023.
Note: As of 1st August 2023, all registered businesses (based on PAN) with an annual turnover in any preceding fiscal year from 2017-18 onwards exceeding 5 crores are mandated to generate e-invoices.
| Annual turnover | New date of mandatory implementation of e-invoice |
| Exceeding 500 crore | 1st October 2020 |
| Exceeding 100 crore | 1st January 2021 |
| Exceeding 50 crore | 1st April 2021 |
| Exceeding 20 crore | 1st April 2022 |
| Exceeding 10 crore | 1st October 2022 |
| Exceeding 5 crore | 1st August 2023 |
In the recent update, from 1st August 2023, e-Invoicing will be essential for all the registered persons whose aggregate turnover (based on PAN) in any prior fiscal year from 2017-18 onwards exceeds 5 crores.
What are the different types of e-invoices supported by TallyPrime?
The different types of e-invoices supported by TallyPrime include:
- Instant e-invoices:
TallyPrime allows users to generate e-invoices instantly without changing the existing invoicing process. This feature automatically generates e-invoices and prints IRN & QR codes on the invoices without manual intervention.
- Bulk e-invoicing:
In certain business scenarios, users may need to generate bulk e-invoices. TallyPrime facilitates the direct sending of bulk invoices to the IRP for e-invoice generation, automatically fetching and printing QR codes on the invoices. Users have the flexibility to choose all invoices or select specific ones for e-invoicing.
- E-way bill integration:
TallyPrime integrates with the e-way bill system, allowing users to generate e-way bills alongside e-invoices for transactions that require them. This integration streamlines the process and saves time for users.
- E-invoice reports:
TallyPrime provides detailed e-invoice reports that offer a comprehensive view of transaction status. Users can track generated, pending, and cancelled invoices, along with an e-invoice register to manage e-invoicing tasks effectively.
- Online e-invoice cancellation:
TallyPrime enables users to cancel e-invoices that already have an IRN generated. This feature allows users to cancel invoices and send the details for cancellation directly from the software.
These features in TallyPrime cater to various e-invoicing needs, ensuring efficiency, compliance, and ease of use for businesses.
Steps to Generate e-invoices in TallyPrime
To generate e-invoices in TallyPrime, follow these steps:
- Register your GSP:
Go to the Invoice Registration Portal (IRP), log in, and select ‘API Integration with ERP’. Set ‘Tally (India) Private Limited’ as your GSP and create a secure username and password.
- Tally Configuration:
In Tally, go to the configuration settings in the Sales Voucher screen and enable settings for ‘E-invoicing and E-way Bill’.
- Create an Entry:
Enter all relevant details in a sales entry. Towards the end of the screen, select ‘Provide GST/ E-way Bill/ E-invoice details’ and click ‘Yes’. Fill in the required e-invoice details, save, and proceed.
- Print E-invoice:
After saving the entry, you will receive a prompt message asking if you want to generate an e-invoice and e-way bill. Select ‘Yes’ and enter the username and password created in step 1. The e-invoice with QR code and IRN will be generated, which you can then print.
By following these steps, users can efficiently generate e-invoices in TallyPrime, streamlining the invoicing process and ensuring compliance with regulations…