Difference Between an invoice and an e-invoice in India
An invoice and an e-invoice differ in the following ways:
|Applicants||All taxpayers||Taxpayers who supply and have a total annual turnover of more than Rs. 500 crore from October 1, 2020, and whose aggregate turnover is Rs. 100 crore from January 1, 2021.|
|Data on the GST Portal||Records data by hand and uploads data using JSON files.||Records data as an invoice based on the structure and settings defined in the e-invoicing system.|
|Invoice Reference Number||No Invoice Reference Number||E -the hash algorithm generates the invoice reference number.|
|Dispatch of e-invoice||GST portal has no feature for validating and downloading invoices.||E-invoice is validated under the e-invoicing system and sent to the supplier to their registered email ID.|
|Digital Signature||Only the supplier’s digital signature is present.||IRP digitally signs validated e-invoices.|
|QR Code||No QR code verification||Verification can be done even without an internet facility|
|Invoice Amendment||Facility available on GST portal||E-invoice available for 24 hours for cancellation
After which, the facility is available on the GST portal.
|Invoice Viewing||On the GST portal||Initially, on the app.
And further sent as an email.
|Invoice Verification||Not easy||Easy|