QR Codes For Invoices

The Central Board of Indirect Taxes and Customs (CBIC) recently issued a notification pertaining to GST and the use of dynamic QR codes. If you are a businessperson who wants to generate dynamic qr codes for digital payment, read this article. It will explain how to generate these dynamic codes for GST and the use of them for digital payments. This will also help you get GST compliant dynamic QR code for your invoices.

A dynamic QR code contains the GST amount and the breakdown of the GST. It should be able to make digital payments. The CBIC has already implemented this in the B2C sector. You will also need to include these codes on your printed invoices and PDF invoices. Your printed QR codes can be 2×2 inches in size, depending on the available space on your invoice. Ensure that the size of your QR code is readable by the QR code scanners you use.

To ensure the compliance of dynamic QR code for GST, a business with a turnover of 500 crores and above is required to generate a dynamic QR code for all B2C transactions. B2C transactions are those where a business supplies goods or services to an individual consumer or non-registered person. The importer does not need to issue an invoice, but it is required to issue a digital invoice.

GST Dynamic QR Codes For Invoices

GST has also made it mandatory for businesses to provide a GST-compliant dynamic QR code on all invoices. It is also mandatory for taxpayers with a turnover of over Rs. 500 crores to include a dynamic QR code on their invoices. Failure to comply with the directive could result in a penalty of up to Rs. 25,000. This notification has simplified the process of generating GST compliant dynamic QR codes.

GST-compliant dynamic QR code is a legal requirement for certain entities. The law requires certain entities to generate these codes for digital payments on B2C invoices. The new laws mandate that they must use these codes to make electronic payments for B2C transactions. For example, businesses that offer goods to consumers may want to offer them these digital payment options in order to attract more customers. In addition, these codes will also help companies avoid fraudulent activity.

The Central Board of Indirect Taxes and Customs (CBIC) has notified businesses on how to generate GST-compliant dynamic QR codes for digital payments. A B2C invoice is a supply to an unregistered person or consumer. If you do not generate these codes, you will not be able to comply with the law and risk penalties. If you have to use dynamic QR codes for digital payments, you must ensure that your customer’s payments are GST-compliant.