E-Invoice (India)
Definition
An electronic invoicing system where B2B invoices are registered on the GST Invoice Registration Portal (IRP). Each invoice gets an IRN (Invoice Reference Number) and signed QR code. Mandatory for businesses above Rs. 5 crore turnover.
Related Terms in India GST
E-Way Bill
An electronic document required for transporting goods worth more than Rs. 50,000 within or between states. Generated on the GST portal. HelloBooks auto-generates e-way bills with delivery challans.
Reverse Charge Mechanism (RCM)
The Indian GST provision making the recipient, rather than the supplier, liable to pay tax on specified supplies, including certain services such as legal and goods transport agency services, and purchases from unregistered suppliers. The recipient pays in cash and may then claim input tax credit subject to the usual conditions.
Zero-Rated Supply
A supply taxed at zero per cent where the supplier may still reclaim input tax, in India covering exports and supplies to Special Economic Zones. Zero-rating preserves input credit, which is what distinguishes it from an exempt supply.
Exempt Supply
A supply on which no GST is charged and for which related input tax credit cannot be claimed. Because credit is blocked, embedded tax becomes a cost, making exemption materially different from zero-rating.
Stop memorising terms — let HelloBooks do the work
AI-assisted bookkeeping that handles invoicing, GST, reconciliations, and reports automatically. Free to start.