Difference Between an invoice and an e-invoice in India
An invoice and an e-invoice differ in the following ways:
|
Based on
|
Invoice
|
E-invoice
|
|---|---|---|
| Applicants | All taxpayers | Taxpayers who supply and have a total annual turnover of more than Rs. 5 crore from August 1, 2023. |
| 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 |
| Error possibility | High | Less |
| 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 |
| Search Possibility | High | Low |