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GST e-Invoice Management of your business using SAP B1 ERP

GST e-Invoice Management of your business using SAP B1 ERP

CHANGE IS THE ONLY CONSTANT… It is also the way of life and key to our very existence.

With the tick of time, the global business setting is smartly adapting to the ground-breaking developments in the field of digital technology.

As a means of progression and keeping up with the challenging modern times, the majority of companies are looking to automate most of their crucial operations in the hopes of accomplishing the tasks smartly and quickly!

Take E-Invoicing (Electric Invoicing) For Instance!

The tax department is also welcoming the digitized trend of online tax filing – be it for individuals as well as business tax-payers! These reforms have, in many ways, revolutionised the tax ecosystem through more agility, security and transparency.  

(This Brings Us to the Important Question) – Are you pondering about e-invoicing & how it is going to influence your business…?

If so, then don’t be! To help you, MegathermERP; as your revered and reliable authorise SAP partner in India delivers you quality plugin to handle your specific GST e-invoicing obligation!

You heard it! By offering SAP Business One which is a GST-ready ERP; it will help facilitate smooth automated e-invoice reports both to GST returns and government-platforms.

(But Before We Talk About Sap Business One GST-Ready ERP); Let’s Dig Into E-Invoicing & How It Proves Beneficial For Your Business…?

To put it lucidly, E-invoicing is a unique system set-up which aids in authenticating B2B invoices electronically via the GSTN. This special electronic system helps issue a single identification number against each B2B invoice. It even helps validate the IRP – Invoice Registration Portal via the GSTN.

Further explaining – this novel E-invoicing electronic system makes a fresh invoice and uploads it to the GSTN website, which is then authenticated and posted successfully post its validation.

Each invoice concerning information will be aptly shared with e-way bill portal and GSTN website consecutively. This helps remove the necessity to file the GSTN return manually and even considerably reduces the paperwork and possible errors when filing the GST!

The SAP Business One (GST-ready ERP) also allows you to conform to the accepted standards levied by the GST tax council, which in turn aids in removing all potential delays and glitches at the time of filing ANX 1/GST return along with part-A of e-bills!

How E-Invoicing Systems Benefits Your Business?

Considering all its potential benefits, the Indian Government officials have shown intent to incorporate this unique and somewhat easy approach to file GST invoices.

Plus, they had also made it clear to all concerning business taxpayers to adjust to the new GST filing format and adopt this rather seamless process by the time this new concept was anticipated to be launched (sometime in October 2020).

In terms of policies to adhere, the SAP Business One will abide by the popular standard GST invoice generation protocol followed all across the sphere. And that is the Pan European Public Procurement Online (PEPPOL) laid down as per the GST council!

Much to the delight of taxpayers, this unique online invoice procurement system will aptly facilitate all business set-ups to share vital information about their supply chain and trading through this levied standard format- which will only allow a single data entry!

There are lots of ways by which this unique e-invoicing system will help business.

And to help you understand clearly, CHECK OUT THE TABLE!

By Using E-Invoice System; You Can Easily Alleviate And Remediate The Crucial Data Reconciliation Loopholes With The GST Invoice And Mitigate Any Existing Mismatching Flaws  
Using E-Invoice System Allows Proper Transparency And Allows Others To Read The Generated GST Invoices  
Using the E-Invoice System Allows For Appropriate Real-Time E-Invoice Tracking  
By Utilizing E-Invoice System; You Can Easily Automate The Entire Tax Filing Procedure And Even Generate Part A Of E-Way Bills Seamlessly  
Using E-Invoice System Also Helps Save A Lot Of Your Valuable Time And Effort Simple As All Key Details Of The GST Invoices Will Be Auto-Incorporated When Filling Other Returns  
Using E-Invoice Systems Offers Ample Reliability In Matters Of Authentic Input Tax Credit  
Since With E-Invoice System, All The GST Information Will Be Properly Scanned At Its Transactional Level, You Can Expect Very Little Interventions Of Tax Authority

Now Let’s Dig Deeper Into Understanding The Must-Have GST E-Invoice Filing Rules…

There are some specific rules which you need to follow when filing your GST with the e-invoicing process.

Here’s A List of All Key Fields to Be Entered in Your E-Invoice

Invoice TypeMaximum length should be 100 characters and should be expressed as Reg/SEZP/SEZWP/EXP/EXPWP/DEXP
Type of Invoice CodeMaximum length should be 50, and the invoice code will be auto-generated as per the type of invoice
GSTIN SupplierMaximum length should be 15, and all should be expressed alphanumerically
The Number of the InvoiceMaximum length should be 16 and must be expressed as “ Sa/1/the current date.”
Previous Invoice NumberMaximum length should be 16 and should be expressed as “ Sa/1/2019”
The Date of The InvoiceExpress as String (DD/MM/YYYY)
The Reserve Charge Mechanism of The InvoiceExpress in Y/N single characters
The GSTIN Of the InvoiceMaximum length is 15 characters
The State Code of the invoiceMaximum length is 2
The Location of the invoiceMaximum length should be 50 characters
The Pincode of the invoiceThe usual 6-digit code
The UUID – Unique Identification Number of the invoiceThe maximum required length is 50 characters, and the input should be ‘649b01ft’
Shipping to GSTIN of the invoiceThe maximum required length is 15 characters
Shipping To The StateThe maximum required length is 100 characters
The Invoice Supply TypeThe max required length is 2, and its sample values are entered as either supply/export/job work…
The Invoice Transactional MethodThe required length is 2, and this field specifies the fields to have either usual bill/bill to/ship to…
The Description of Goods and SupplyThe description should be of 300 characters, and the scheme doc denotes the item categorisation identifier
The Quantity of the invoiceDecimal(13,2) with the Sample value being ‘10.’
The Rate of The invoiceDecimal(10,2) with the Sample value being ‘50.’
The Assessment value of the invoiceDecimal(13,2) with the Sample value being ‘5000.’
The GST rate of the invoiceDecimal(3,2) with the Sample value being ‘5
The IGST, CGST and SGST value of the invoiceDecimal(11,2) with the Sample value being ‘650.00.’
The Overall Value of the invoiceDecimal (11,2)

What’s More…!

  • You will come across a certain field which are optional and need you to input accurate and relevant information only.
  • All the sections are highlighted in the table to give you a better idea. Of all the sections, 8 are optional and will require you to input 34 fields.
  • The others are optional sections where you will have to input roughly 17 fields.

IMPRESSED…? Well, You Should Be!

With this unique SAP Business One (GST-ready ERP); you can flush out your worries and always stay compliant with the levied PEPPOL standard protocols when generating your invoice in accordance with the GST council.

So…, Are You Ready To Take The Next-Big Step…?

If so, then UNEECOPS Business Solutions is your reliable SAP gold partner to trust.

By associating; you can avail its limited time off on their GST-e-invoice plug-in systems for seamless GST tax filing.

Their unique GST-ready ERP software integrated with e-invoice will simplify all your cumbersome GST compliances.

Here’s a Look at Some of the Impressive Features You Will Get!

  • This easy to use enterprise software will make managing all your crucial documents easy and appreciative
  • It will deliver optimal data security to let your business run properly and in total compliance with GST tax norms
  • This GST-ready ERP will also improve operational control along with transparency by delivering a thorough view of each activity and governance in compliance with GST rules
  • The software will even let you compare and make forecasts for better GST driven compliances through quality data standardization and year-by-year viewing

Wait… There’s More…!

  • This software will provide accurate information about ITC – Input Tax Credit both availed as well as utilized so far
  • It will aptly take care of all Job in and Job out facility in accordance to the GST regulations
  • It can also handle ITC and GST on import materials and capital goods
  • It allows spontaneous preparation of all monthly/quarterly/yearly returns
  • It offers consistent and efficient backup of data prior to its next upgrade
  • The software also facilitates file all manner of dealer and returns facility
  • Clearly displays information about paid GST at the mere push of a button
  • It comes with an easy and user-intuitive interface

Furthermore, This GST-Ready ERP Will Suit a Wide Variety of Businesses Like –

  • Pharmaceuticals
  • Packaging and delivering/Supply chain business
  • Facilities and shopping malls
  • Food and beverages
  • Clothing and accessories

And the list goes on…!

SO, it’s Safe to Say That This Next-Gen GST-ready ERP software Paves the Path to Compliance, Profitability & Excellence!

Without procrastinating further, request for this GST ready ERP software to handle your GST invoice filing tasks.

Plus; you can even schedule a DEMO with the experts at UNEECOPS Business Solutions to LEARN MORE…!

These experts will be more than happy to answer all your questions and remove all your queries.

About the author

MegathermERP is an Authorised SAP Business one partner in Kolkata, India. We offer complete ERP solution in eastern Indiaincluding Kolkata, Odisha, Bihar, Jharkhand, Assam and Raipur-Chattishgarh. It is the focus point of our business that we help our customer achieve a robust IT infrastructure so that they can concentrate in their core business without having sleepless nights concerned about IT.

Call our help desk to know more or visit our website www.megathermerp.co.in

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