Introduction of QR Code in GST

Introduction of QR Code in GST

The purpose behind introducing QR code in GST is to make things quick and convenient in this digital area. This new e-invoicing system aims to have a standardised way of reporting invoices.

Introduction of QR code in e-invoicing will increase the ease and efficiency in e-commerce activities.

Purpose behind introducing QR Code in GST

The QR code helps to determine the respective information in few seconds. QR code is introduced to provide information about a respective invoice in a quick manner.

Following are the foremost purposes behind introduction of QR code in GST:

1. This helps to increase the efficiency of e-commerce activities.

2. To make it convenient for Indirect Tax Officers to check invoice validity.

3. It will help a supplier to quickly generate the PDF of the e-invoice.

Applicability of QR Code to B2C GST Invoice

· When the aggregate turnover of a supplier in a preceding financial year, starting from 2017-18, exceeds Rs.500 crore, shall be required to have a dynamic QR code displayed on B2C invoices on invoices raised.

· Where the supplier makes a dynamic QR code available through a digital display, the cross-reference of the payment made through it should be made available.

Information contained in QR Code

The QR code is formed to increase authenticity of transactions in a quick manner. can Following information is contained under QR code.

  • GSTIN of the supplier
  • GSTIN of the recipient
  • Invoice number given by the supplier
  • Date of the generation of invoice
  • Invoice value
  • Number of line items
  • HSN Code of the main item
  • Unique Invoice Reference Number/Hash

How and where is the QR Code Generated?

On the Invoice Registration Portal (IRP) the JSON of the invoice is required to be uploaded for generating an Invoice Reference Number (IRN). After the successful generation of IRN, the IRP allows the affixing of digital signature and QR code to the JSON.

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