Following on from my earlier post last week, I wanted to share a bit more about the MRA e-invoicing coming into play mid May 2024. Every single operator with a turnover of more than Rs 100 million will have to do the following:
All economic operators will be required to generate invoices and their associated debit notes and credit notes, using an Electronic Billing System (EBS) for transmission, in real time, to the MRA e-Invoicing platform for fiscalisation. In order to comply with the MRA e-Invoicing system, economic operators will have to ensure that their billing systems are able to generate invoices in a structured format, known as the JSON format, as per requirements of standard e-invoice format.
During fiscalisation, MRA will then provide a QR code, 2 cm by 2 cm, which will need to be printed on the Sales Invoice, debit notes or credit notes as per picture below. This is mandatory and will come into effect gradually for all organisations.
In short, if no QR code provided by MRA is printed on your invoices, then your invoices are not legal. Whether you are on an old system, which is not MRA e-invoicing compatible or are looking for a new ERP/accounting software compatible to MRA’s new initiative, look no further than us with Microsoft Dynamics 365 Business Central. We get you up and running with no need for a server and an icon on your Office 365 for Rs 13,780 per month. Get the most successful and fastest growing ERP/accounting software in the world for that price with MRA e-invoicing accreditation.