The Invoice Registration Portal (IRP) is an online portal established under the GST system in India to facilitate the generation of e-invoices by taxpayers and their registration with the GSTN. The Invoice Registration Portal (IRP) offers a secure and standardised approach to generating and registering invoices, with the added benefit of real-time validation of invoice data.
The primary goal of the IRP is to ease the invoice generation and registration process while also improving tax compliance by reducing errors and enabling faster invoice processing. For businesses with an annual turnover exceeding Rs. 50 crore, it is mandatory to generate and register their invoices on the IRP. This article introduces the IRP and its significance in the context of the GST system in India.
IRP performs the following functions:
Invoice Hash/IRN Generation – When an invoice is uploaded without a hash, the IRP creates the hash/IRN for the invoice in the specified format based on IRN parameters.
De-Duplication Check – The IRP checks the hash/IRN of each invoice for duplication or repetition by comparing it to data in the central depository.
Digital Signature of Validated Invoices – The IRP digitally signs each validated invoice using its private key. The provider is then granted access to the digitally signed JSON.
QR Code Generation – The IRP generates a QR code and digital signature for each invoice. The QR code allows taxpayers to quickly access their invoice and check or print it on mobile devices. Tax officers and stakeholders can also use the QR code to confirm specific information without internet access. The following information is accessible via the QR code.
Sending The Invoice Via Email – The IRP sends a validated invoice to the seller’s email address.
Offline App – The IRP will provide an offline app that enables users to view basic information and authenticate the QR code of a bill. The full details of the invoice will only be accessible after connecting to the site.
Integration With GST and E-Way Bill System – The GST system will automatically integrate the invoice details provided by the seller, which will update GSTR-1. If required, additional information will be seamlessly integrated with the e-way bill system to ease the e-way bill generation process. The technology for generating e-way bills requires only a vehicle number to complete the procedure.
An established protocol is used for electronically reporting invoice details for e-invoicing. GST taxpayers must adhere to a specific format that enables the system to read output generated by other systems. If invoices are recorded in the suggested format, it will significantly impact the automation of filing returns.
Therefore, it can be concluded that the main function of the invoice registration portal is to register details of the invoices an organisation regularly generates rather than produce e-invoices online. When entering invoice information into the IRP using an offline tool, the invoice should be accessible as a JSON file. The ERP should be integrated directly with the e-invoice system via API or GSPs.
The following modes for registering the invoice on the IRP have been suggested:
Web-Based Bulk Upload – Eligible taxpayers can submit invoice information on an offline Excel tool, which converts the data into JSON files. These files can be uploaded to the IRP’s e-invoice website for registration, following which a QR code and IRN will be generated.
API-Based – Large taxpayers and accounting software providers can use API integration to communicate with the invoice registration site using their programmes. To enable this, server information from their system must be registered with the e-invoice system. Like the e-way bill system, APIs can generate and validate IRN for individual or bulk invoices. Integration requires a pre-production system to test the API interface, an IT-enabled invoice generation system with a stable IP address, and an SSL-based domain name.
Mobile App-Based – The IRP has a planned mobile app that performs part of its operations, available on the play store or app store. To generate IRN on the e-invoice system, users must register their International Mobile Equipment Identity (IMEI).
GSP-Based – Taxpayers can also use GST Suvidha Provider (GSP) services to help them comply with e-invoice requirements. Busy’s e-invoicing technology enables users to generate electronic invoices in multiple ways, including Excel Mode, FTP, SFTP, and a tally connector. Users can benefit from various value additions, including:
The Invoice Registration Portal (IRP) has significantly improved the invoice generation and registration process under the GST system in India. The IRP has increased transparency and compliance, reduced errors and delays, and provided a standardised approach to invoice management. The portal has also eased the process for taxpayers by enabling real-time validation of invoice data and faster processing of invoices. The IRP has been a significant step towards achieving the objectives of the GST system, and its adoption has resulted in improved efficiency and transparency in the tax system. With Busy Accounting software, you can integrate the e-invoice without any hassle.