B2B Payments

Avalara Unveils eInvoicing Software For Tax Compliance In India

eInvoice

To assist companies in following Goods and Services Tax (GST) rules in India, Avalara, Inc. has debuted its Avalara India GST e-Invoicing product. The solution comes on top of the technology firm’s array of offerings to bolster the GST compliance experience for companies in the country, according to a Wednesday (Sept. 16) announcement.

"For global businesses, their India operation is critical to their competitiveness, but that has exposed them to a new world of GST compliance complexity," Avalara Chief Product Officer Sanjay Parthasarathy said in the announcement. "Avalara’s GST e-invoicing solution provides businesses with a platform that easily integrates with existing commerce technology and automates the process of generating and filing e-invoices.”

Avalara India GST e-Invoicing assist companies in making digital invoices en masse in real time and in batches for transactions in addition to the automation of e-way bills and GST returns. As a result, companies can reduce the complexity of their digital invoice management at scale.

Businesses can also harness flexible application programming interface (API) integrations or file uploads to reduce interruptions to existing procedures in enterprise resource planning software (ERP) and other financial technologies.

And companies can also decrease their business risk, while bolstering their governance, according to the announcement.

Businesses can use Avalara India GST e-Invoicing as a connected technology or as a separate module for making digital invoices and helping with compliance requirements in India.

India, for its part, recently embarked on a digital invoice mandate effort, and the Central Board of Indirect Taxes and Custom (CBIC)  brought about regulations that make businesses adopt eInvoices to cut down on GST evasion.

The nation isn’t the first to implement an eInvoice requirement as part of more widespread initiatives to cut reduce financial crime. However, digital invoicing standardization and mandates also leads to further benefits than only fostering adherence to tax rules.

U GRO Capital Chief Growth Officer Sandeep Kakar previously noted that the requirement is foster transparency in trade between businesses, with meaningful implications for the supply chain financing area.

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