Smaller Businesses Struggle Adhering to E-invoicing Rules

As per GST Notification 17/2022, businesses with an AATO of Rs. 10 Cr. are required to generate e-invoices from October 1, 2022. After a business has crossed the threshold, it is required to start generating IRN for which there are a few important steps that the business needs to follow.

To begin with, the business needs to register with an invoice registration portal and start sending invoice data for generation IRN and a digitally signed QR Code. The IRN and QR is supposed to be printed on the final invoice that the business will share with the recipient. This is only true for B2B and export invoices.