Class of registered person required to issue GST invoice having QR Code

QR codes are becoming increasingly popular in the world of business, and the Indian government has taken note. The government has mandated that all GST invoices issued by certain classes of registered persons must now have a QR code. In this article, we’ll explain everything you need to know about GST invoicing with QR code.

What is a QR code?

A QR code is a two-dimensional barcode that contains information. It can be scanned using a smartphone camera, and the data contained within the code will be displayed on the screen. QR codes can contain a variety of information, including website URLs, contact details, and product information.

Who is required to issue GST invoices with QR codes?

The government has mandated that all registered persons whose aggregate turnover in a financial year exceeds Rs. 500 crore must issue GST invoices with QR codes. This requirement came into effect on December 1, 2020.

What information must be included in the QR code?

The QR code must contain the following information:

1. Invoice number

2. Date of invoice

3. Gross amount of invoice

4. GSTIN of supplier

5. Place of supply

The QR code must be in a machine-readable format, and it must be placed on the invoice in a way that is easily accessible to the recipient.

Why is the government mandating QR codes on GST invoices?

The government has mandated QR codes on GST invoices to make compliance easier for businesses and to reduce the possibility of tax fraud. With QR codes, the recipient of the invoice can easily verify the details of the transaction by scanning the code with their smartphone. This will help to prevent fake invoices and other forms of tax evasion.

What are the benefits of using QR codes on GST invoices?

QR codes on GST invoices have a number of benefits, including:

1. Reducing the possibility of tax fraud

2. Making compliance easier for businesses

3. Providing greater transparency in transactions

Conclusion

If you are a registered person whose aggregate turnover exceeds Rs. 500 crore, you are now required to issue GST invoices with QR codes. This requirement is designed to make compliance easier for businesses and reduce the possibility of tax fraud. By including a QR code on your GST invoices, you can provide greater transparency in your transactions and help to prevent tax evasion.