1 / 6

IRN Cancellation: All About E-invoice Cancellation in Details

IRN Cancellation: Reason for IRN Cancellation | IRN Cancellation: All About E-invoice Cancellation in Detail | IRIS IRP

irisirp
Download Presentation

IRN Cancellation: All About E-invoice Cancellation in Details

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. IRN Cancellation: All About E-invoice Cancellation in Detail

  2. IRN Cancellation is possible if it is done within 24 hours of submitting the invoice. In this blog, let us explore how to cancel IRN or the Invoice Reference Number that is already generated for an invoice on the Invoice Registration Portal (IRP). • In October 2020, the Government of India introduced the e-invoice mandate. Currently, the e-invoicing mandate requires all companies with an AATO of over Rs. 10 crores in a financial year to generate e-invoices under GST. They must register their invoices with an IRP like IRIS IRP.    • So, what is an IRN? How is it related to the IRP? And what is the process of IRN cancellation? Let us discuss here...  

  3. According to the e-invoice mandate, organizations with an AATO of over 10 crores of turnover must register their invoices with the IRP. Once the invoice is uploaded on the portal, the government assigns a unique number to the invoice. This number is called the Invoice Reference Number, or the IRN.  • According to the e-invoice mandate, organizations with an AATO of over 10 crores of turnover must register their invoices with the IRP. Once the invoice is uploaded on the portal, the government assigns a unique number to the invoice. This number is called the Invoice Reference Number, or the IRN.  • An e-invoice under GST, once uploaded on the IRP, is stored on the portal for 24 hours. So, if you wish to cancel your IRN, you must do it within 24 hours. But, why would a business need to cancel their e-invoice?  What is IRN? 

  4. Cancellation of IRN can be needed for several reasons. Primarily, businesses cancel their IRN for the following reasons.  • Buyer cancels the order   • There are mistakes in the e-invoice   • Incorrect entries   • Duplicate entries   Reasons for IRN Cancellation

  5. However, before you cancel IRN, there are a few things you must consider. Mentioning them below:  • If a business, for some reason, fails to adhere to the timeline of cancelling an IRN within 24 hours, then the supplier must issue a debit or credit note. Otherwise, the supplier must edit the Form GSTR-1 and alter the corresponding details of e-invoice.   • Furthermore, let’s say the e-way bill is already generated with respect to a particular IRN. It is, then, not possible to cancel that particular IRN. In such cases first need to cancel the E-way bill if possible and then only cancelation of IRN will be allowed.  • If a business meets the conditions and cancels the IRN, then another IRN cannot be generated for the same invoice number.   • It is also not possible to partially cancel an IRN.

  6. For taking time to read our PPT • For more information visit our website : • https://einvoice6.gst.gov.in/content/irn-cancellation-all-about-e-invoice-cancellation-in-detail/ Thanks +912267231000 https://einvoice6.gst.gov.in/login hello@irisirp.com

More Related