Since its introduction in 2020, GST E-invoicing in India has come a long way. Initially, e-invoicing was applicable solely for large enterprises with annual aggregate turnover of INR 500 crore or more.
But after the new mandates in April 2021 and 2022, enterprises with annual aggregate turnovers of 50 crores and 20 crores had to comply with GST e-invoicing norms. More recently, since October 2022 and January 2023, businesses with an annual aggregate turnover of 10 crores and 05 crores are now required to comply with the same.
After the April 2021 decisions, GST e-invoicing became mandatory for micro, small, and medium enterprises (MSMEs). For a time, there was a great scramble as business solutions used by them at the time we simply ill-equipped to do so. Still are.
Even today, there are few ERP software or business management systems that provide in-built capabilities for handling e-invoicing. At times, their legacy software isn’t compatible with the available GST e-invoicing software, leading to added costs of buying complete new software just for it.
That’s exactly where the users of SAP Business One gained an edge and continue to do so. SAP B1s unmatched customizability and compatibility with third-party software such as add-ons ensured that SAP Business One user only needed to integrate an add-on to add all functionalities that would help them immensely in e-invoicing and e-way billing.
One such add-on has been one of our own making – GST One.
What is GST One?
GST One is a GST E-invoicing and E-way Billing add-on created for SAP Business One. Once integrated with SAP B1, it allows you to generate b2b e-invoices & e-way bills with IRN, do Bulk Operations, Use & Create custom templates for invoices, Reconciliation, & much more. It also helps automate and generate e-invoice & e-way bills in a single click from within SAP Business One.
What are the features & benefits of GST One?
Some salient features of GST One are as follows:
GST Reconciliation
GST One creates accurate invoices & gives them unique identification numbers compliant with requirements. It results in a significant reduction in mismatches & errors, making the GST reconciliation effortless.
Generate e-invoices & e-Way Bills
With a single click you can generate GST e-invoices and e-way bills directly from SAP Business One. Plus, the generated details are saved on the document itself, eliminating the need to go to the portal and copy-paste each detail.
Generate Multiple Documents
In GST One, you can generate several documents by selecting the ones you require from the list and letting the software do the rest. It is applicable to both – GST E-invoices and E-way Bills.
GST Number Verification/Returns Validations
You can verify GST Numbers and Addresses for both – customers and suppliers. Verifying returns submitted by supplies is also possible in GST One.
As for some of the more prominent benefits of using SAP B1 + GST One are as follows:
- It helps reduce mismatch & duplication errors & aids in avoiding duplication and data reconciliation.
- Standardized formats ensure that the e-invoices are usable and understandable by multiple systems.
- Continuous trail of all your e-invoices & returns results in a transparent and organized experience.
- Built specifically for SAP Business One, meaning there is no need to change your ERP solution if you are already using SAP B1.
In conclusion, doing your GST e-invoicing through SAP Business One becomes an absolute breeze with GST One. Plus, it helps you comply with the Government GST billing mandate and all its rules and regulatory requirements. If you are in the market for an ERP solution that allows you to manage business and aids in GST e-invoicing, then there is no option better than SAP Business One + GST One.