A standardized electronic invoicing system under GST in India where invoices are authenticated by the Invoice Registration Portal (IRP) before being issued.
e-Invoicing doesn't mean generating invoices online — it means getting invoices validated and registered on the government's Invoice Registration Portal (IRP). The IRP assigns a unique Invoice Reference Number (IRN) and digitally signs the invoice with a QR code. e-Invoicing is mandatory for businesses above ₹5 crore turnover and automates GSTR-1 filing, reduces errors, and enables real-time tax compliance.
A manufacturer with ₹10 crore turnover generates an invoice in Laabam.One ERP. The system automatically sends it to the IRP, receives the IRN and QR code, and embeds them in the PDF — all in seconds.
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As of 2024, businesses with annual aggregate turnover exceeding ₹5 crore must generate e-invoices for all B2B supplies. The threshold has been progressively lowered from ₹500 crore in 2020.
Yes, within 24 hours of generation on the IRP. After 24 hours, you must issue a credit note instead. Cancellation must also be reflected in your accounting system.
A commercial document issued by a seller to a buyer, detailing the products or services provided, quantities, prices, and payment terms.
A comprehensive indirect tax levied on the supply of goods and services in India, replacing multiple earlier taxes like VAT, excise duty, and service tax.
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