Wednesday 26 February 2020
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business-standard - 12 days ago

New GST filing format, e-invoicing to help in ease of doing biz, reporting for taxes: GSTN CEO

GST Network CEO Prakash Kumar on Friday said e-invoicing and the new format for filing GST will help improve the ease of doing business and reporting for the indirect taxes. E-invoicing is a step towards improving ease of doing business and reporting for GST. Manual data entry leads to transcription errors and wrong entries, Kumar said while addressing an event on E-invoicing and New GST Return Format organised by the PHD Chamber of Commerce and Industry. There is a need for standard to ensure complete interoperability, he said. The economies in the high-income group OECD are at the forefront of invoice digitisation, he said. The GSTN CEO said that in India, the aim is to make digitisation part of business process of taxpayers and eliminate all manual reporting. N K Gupta, chairman (indirect taxes committee) of PHD Chamber, said e-invoicing is the new system through which business-to-business (B2B) transactions are authenticated electronically by GSTN. This is a major step ...

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