Convenient Verification of GST Invoices
The Goods and Services Tax Network (GSTN) has approved five official mobile applications to streamline the verification of e-invoices. This move enhances convenience by allowing businesses to authenticate invoices directly on mobile devices, eliminating the need for desktops or laptops. This innovation is expected to expedite the input tax credit (ITC) claim process and reduce disputes arising from fake invoices.
Benefits for Buyers and Sellers
The new apps provide businesses with a reliable tool to verify the authenticity and validity of e-invoices received from suppliers. For buyers, this ensures a smoother ITC mechanism by protecting them from fraudulent claims. For sellers, it facilitates quicker approvals of invoices by buyers, enhancing operational efficiency and trust in the tax system.
Addressing the Fake Invoice Challenge
Experts believe these apps can significantly reduce the proliferation of fake GST invoices. The faster verification process will deter fraudulent activities, minimizing legal disputes and promoting a cleaner tax environment. By improving transparency, the apps support the broader goal of a robust GST ecosystem.
Approved Apps and Accessibility
The advisory issued by GSTN on November 27, 2024, lists the five authorized apps developed by different vendors—EY, Cygnet, NIC, IRIS, and GSTN itself. All apps are interoperable and provide the same functionality for B2B e-invoice verification. GSTN has also shared a consolidated document with QR codes and download links for easy access to these applications.
