e-Invoicing to help in EoDB: GSTN CEO Prakash Kumar
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 (EoDB) and...
New Delhi: 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 (EoDB) 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. In India, the aim is to make digitisation part of business process of taxpayers and eliminate all manual reporting," said Kumar.
NK 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 towards the push for a digital economy. GSTN is improving every day and GST is digitised to a great extent."