With deep roots in the most challenging compliance environments in the world, Sovos serves as a true one-stop-shop for managing all VAT compliance obligations in India and across the globe. Contact us to learn how Sovos e-Invoice solutions can help your business comply. sovos.com | emeainfo@sovos.com Istanbul (TR) +90 216 445 93 79 London (UK) +44 (0) 020 7036 8070 Key dates How Sovos can help Voluntary period for businesses with a turnover of Rs.500 Crore ($70M USD approx.) or more Voluntary period for businesses with a turnover of Rs.100 Crore Voluntary adoption is not permitted for any businesses with a turnover below Rs.500 Crore 1 Jan 2020 1 Feb 2020 30 July 2020 Start of mandatory period for businesses with a turnover of Rs.500 Crore or more Start of mandatory period for businesses with a turnover of Rs.100 Crore or more Start of mandatory period for businesses with a turnover between Rs. 100 Crore and Rs. 50 Crore 1 Oct 2020 1 Jan 2021 1 April 2021 Atlanta (US) +1 800 988 0728 Quick Facts Invoice data should be transmitted to the Invoice Registration Portal (IRP) in JSON format Invoice Reference Number (IRN) required for invoices to be legally valid E-waybills relating to B2B, B2G and export transactions must be generated through the e-invoicing platform - these can be prepared at the same time as the invoice, or after generating the IRN JSON Mandate aim To ease the process and format of standard reporting between taxpayers and tax authorities To prevent tax evasion by monitoring all B2B invoices and taxes within a transaction Mandate scope Domestic and cross-border transactions (exports) B2B and B2G transactions Credit/debit notes Input service, distributor and reverse charge invoices NO: 12345678 The Indian e-invoicing system now falls under the category of Continuous Transaction Controls. Invoice data must be transmitted to the governmental portal before an invoice can be issued. As the fifth largest economy in the world, the scope of the mandate is far reaching. EINVOICING IN INDIA Invoices can be exchanged in JSON or PDF format as well as in paper form between the supplier and buyer Archiving is mandated (eight year storage period)Next >