Source: Financial Express
In what would bring a sigh of relief to GST Network (GSTN) and businesses at large, the first two days of the crucial exercise involving upload of sales and purchase invoices to the GSTN portal is widely seen to have gone smoothly. GSTN, which runs the IT backbone for the new indirect tax regime, allowed the process from Monday primarily aimed at B2B businesses that generate a vast number of invoices. Although the companies have to file a detailed invoice-wise return only in September, uploading invoices periodically would help them avoid the rush at the last moment. Businesses have used GST Suvidha Providers, software developers authorised by GSTN to access its servers, for the exercise. “Day one experience was hassle-free as people were successfully able to upload their invoices to our system. We now have regular invoice uploads to our cloud app manually and via ERP connectors. These invoices can be sent to GSTN as soon as we receive production API from GSTN,” Saket Agarwal, global CEO, Spice Digital said.
Since GSTN is still to release the production version of Application Programming Interface (API), only a certain type of information uploaded by GSPs will be accepted by the GSTN server but the exercise will also test the preparedness of the GSPs. GSTN says that the API would be ready well before September for filing return. “Apart from uploading invoice data, Vayana Network is also helping their customers with item level invoice matching and reconciliation between Buyers and Suppliers so that it becomes easier for them to claim Input Tax Credit,” said Sanjay Phadke, Head – GST, GST Suvidha Provider, Vayana Network. Another GSP said that its systems were ready to the extent GSTN was, and it had successfully managed to upload invoices on behalf of customers.
“Some of the elements that we are currently uploading to our systems will not be uploaded to GSTN servers as all the functions aren’t ready at its end,” he added. Before GSTN opened the facility, its chairman, Navin Kumar had said that the facility was for B2B companies, where transactions are to be reported at the invoice level. Businesses who deal with a large number of invoices in a month will be required to do it. These businesses can start uploading invoices now instead of waiting for till the time of filing return,” he said.