IRIS Launches GST E-Invoice Registration Portal
Compliance solutions provider IRIS Business Services has launched IRIS Invoice Registration Portal (IRP) to assist businesses in complying with the Goods and Services Tax (GST) requirements.
The portal is one of the first private invoice registration portals authorised by the government to authenticate B2B and export invoices along with credit/debit notes.
“We are excited to launch IRIS IRP and look forward to assisting businesses in complying with the GST requirements and making e-invoicing simpler for all,” saidK Balachandran, co-founder and CFO of IRIS Business Services.
He further added that the Indian digital public infrastructure build out is catching international attention. The E-Invoicing mandate and private IRPs are part of this story. IRIS is proud to be associated with this important initiative.
Currently, businesses with an Annual Aggregate Turnover (AATO) of ₹10 crore and above are required to generate IRN (Invoice Reference Number).
The threshold for e-invoicing is lowering in phases and soon it may get applicable to all businesses. To simplify e-invoice implementation throughout the country, the government has given private IRPs like IRIS IRP authority to split the load from the government portal in order to simplify e-invoice implementation.
Gautam Mahanti, Business Head, IRIS Tax Tech said that the digital rails for powering a $10 trillion economy will run through IRP portals which will facilitate e-invoicing resulting in a faster and more transparent exchange of invoices while minimising tax leakages.
IRIS has been working with the Reserve Bank of India (RBI) for a decade and more to bring digital transformation in the Indian banking regulatory reporting space and is now proud to be associated with GSTN in this epoch journey which is hailed as the next ‘UPI’ moment for commerce transactions, Mahanti added.
IRIS IRP offers e-invoice generation facilities to businesses as well as solution providers and fintech partners. Business entities have four different ways through which they can access these facilities — via APIs, Web Portal, Excel Utility, and Mobile App.
Any user with can register with the portal using a valid Email ID and mobile number. The user will be able to take advantage of the services after establishing his/her identity by entering the OTP (one time password) sent on the provided Email ID and mobile number.
Along with core features of generation, fetching and cancellation of e-invoices, IRIS IRP also provides additional VAS features to tax payers such as seamless user journey of onboarding and registration directly from billing/accounting systems, storing invoice data for longer periods, and printing and sharing invoices with customers and vendors through the platform etc.