Type of compliance: Clearance
Document Storage Requirement: 8 years

India introduced mandatory e-invoicing using the government’s platform in 2020 and has applied a phased approach, rolling out to businesses based on revenue thresholds. We expect that the mandate will apply to all businesses soon. The clearance process involves pre-clearance for issuers and validation checks required for receivers. These are independent processes meaning the supplier will submit to the Invoice Registration Portal to receive an Invoice Reference Number and QR Code before sending the invoice to their customer with this information. The Buyer will then need to validate the document using the IRN or QR Code.

Learn more about Tradeshift’s B2b E Procurement Marketplace