Learning from the experiences of various countries, India has launched E-invoicing under the post-audit methodology as against the clearance method. Under the post-audit method, the invoices are checked after the transaction happens; and under the clearance method, the authorities approve the invoice before it is actually raised.
It is an exciting time for tax technology in India, as the Government is inclined to make tax functions completely automated. With multiple steps like E-office, Faceless Customs, E-way Bill, E-invoicing, the age of digitizing tax has arrived!