IRP, which stands for Invoice Registration Portal, is the official portal authorized by the Indian government for companies to create e-invoices under GST. Taxpayers can register their B2B invoices and export invoices to obtain a unique IRN (Invoice Reference Number). An invoice is regarded as invalid in the absence of the IRN number.
We are happy to share with you that IRIS is now an official IRP authorized by the GSTN. IRIS IRP can help taxpayers, businesses and solution providers to generate IRN or even bulk e-invoices.
What is Invoice Registration Portal?
The government has established or authorized the Invoice Registration Portal (IRP) to issue IRNs (Invoice Reference Numbers) for each tax invoice, credit note, and debit note that businesses produce.
The IRPs serve as registrars. By uploading the invoice details onto the IRP, it is possible to generate, cancel, or validate the IRN of the submitted invoice. Government regulations state that only B2B and export invoices with an authorized IRN will be accepted as valid under the GST statute.
What an IRP do?
1. Generation of IRN
A number specific to that invoice is generated using the hash algorithm when a valid document for e-invoice production (currently a tax invoice, debit note, or credit note) is sent to the Invoice Registration Portal (IRP). Nothing more than a function, the hash algorithm turns a message or string of characters—alphabets, integers, and specific special characters—into a series of numbers. An IRN is the name given to this special identification.
Read more about IRN Generation here
2. Check for de-duplication
The main goal of e-invoicing is to have all business transactions registered with the government. Therefore, making sure there are no duplicate records is a crucial part of the process. The IRP verifies an invoice for duplicate or repetition by comparing its unique identifier, or IRN, with other already produced IRN data held in the Central Depository.
3. Digital Signing of validated invoices
Once an IRN is generated, it's crucial for trade and businesses to understand that the IRN listed on the invoice they receive bears the proper sources. Therefore, the IRP digitally signs each of the validated invoices using its private key. The supplier is then provided access to this digitally signed JSON.
4. Creation of QR codes for invoices that have been verified
Each invoice is given a QR code by the IRP in addition to a hash to make using IRN for printing and other purposes easier. The taxpayer can utilize the produced QR code to rapidly view, access, and print the invoice on mobile devices as well as to verify it. This functionality is useful for confirming specific information when tax officers or other stakeholders have restricted or no internet access.
Read more about B2B QR Code here
5. IRN Cancellation
While IRN generation is crucial, businesses frequently also need to cancel the IRN that was generated. Consequently, an IRP also offers a cancellation option. For invoices that have already been submitted or reported to the Invoice Registration Portal (IRP) and for which an IRN has been generated, cancellation of the IRN is an option. But only within 24 hours of its generation is this possible.
Read about IRN cancellation in detail here
6. GST and E-way bill system integration
The GST system and the E-way Bill system operate in tandem with the IRP. Consequently, the GST system automatically receives the information from the submitted invoice whenever an IRN is issued, enabling the automatic updating of GSTR-1 (of the seller). Additionally, the data is instantly transferred with the e-way bill system to simplify the creation of e-way bills as needed. The process is made simpler for taxpayers as a result they need not require interaction with many portals.
Read: E-invoicing and E-way Bill
IRIS IRP is a GSTN Authorized Invoice Registration Portal
With IRIS IRP, you can prepare a single e-invoice via our tool or bulk generate IRN through the excel utility, pull IRN in your ERP via API Integration or custom print invoices using an awesome cloud platform!
If you are a small business owner (MSME/SME) : IRIS IRP helps you to jumpstart your e-invoicing using the offline excel utility tool i.e. MS Excel interface. You can send Invoice Data to IRP in bulk and generate e-invoices real-time! Also, get to generate e-invoices and e-way bills on a single platform.
If you are a large business owner : IRIS IRP E-invoicing is the best option for you - It is the fastest and easiest way to generate e-invoice. There are multiple options to generate IRN via IRIS IRP. You can integrate IRIS IRP APIs to get IRNs directly into your accounting system.
If you are a solution provider yourself : IRIS IRP calls all ERP providers and system integrators to design a seamless user journey for your customers using IRIS IRP to build a robust and error-proof e-invoice compliance. We offer Core and Enhanced APIs for e-invoice generation.