GST mechanism or Goods Service Tax in India aims to streamline & simplify the taxation system of India. Therefore, GST authority using various kinds of online or digital mechanisms. Almost everything that a business needs to do under the GST Regime whether it’s GST Registration, GST Return Filing, Invoice Generation and Waybill generation turning to digital now. The E-invoicing & E-Way bill generation are amongst the most essential tasks that businesses need to do to be legally compliant with the GST.
E-invoicing is simply a digital way to generate an invoice and real time reporting invoice details to the GST authority.
E-Invoicing concept introduced by the government with the aim of curb tax evasion and fake invoicing.
Government of India regularly reduces mandatory e invoicing limit which was initially started from INR 100 Crore and now reduced to INR 5 Crore with effect from 1st August 2023.
It means any business having annual turnover of INR 5 crore then needs to generate eInvoice compulsory otherwise tax invoice without eInvoicing carry no validity. Hence, small business also comes under the preview of eInvoicing.
Furthermore, e waybill generation is also mandatory for delivering the goods outside shop/warehouse.
This mandate traps small businesses too in one more complicated and time consuming gst compliance. This led to further distracting entrepreneur focus from their core business operations. However, there is no simplified and pocket friendly tool to create electronic invoice and waybill.
The founder of Instabill comments, “Announcing a thrilling new chapter for Instabill, we’re focused on innovation and the expansion of our service portfolio. Our dedication to providing swift payment solutions and accurate GST Billing remains our top priority. The entire Instabill team is poised to offer even more value to our clients and partners in the coming years.”
Instabill solves eInvoicing and eWaybill traps too for small businesses. With Instabill, any business can generate an eInvoice in one click within seconds. On generating eInvoice, Instabill automatically reports invoice details on the GST portal and obtains IRP. Furthermore enable QR Code in Invoice pdf too.
Instabill eliminates the need for manual sales data entry when filing GSTR-1 returns and generating part-A of e-way bills, as the information is directly sent to the GST portal by the IRP.
Currently, business owners create 1000+ daily eInvoice and ewaybill with the help of Instabill. Instabill has 60,000 plus users and is continuously increasing its user base by offering new automation and AI enabled updates which allow businesses to easily create GST Invoices, Quotation, Purchase Order, Delivery Challan, Record Purchases and Expenses and much more.
Additionally, Instabill is an on the go application for business owners that can be used from anywhere from the world with the help of cloud technology. Instabill is available in playstore or can be easily sign up visiting www.instabill.co