Software-as-a-service (SaaS) startup CaptainBiz on Wednesday announced unlimited e-invoices and e-way bills for MSMEs to boost overall productivity and efficiency of business. Available on its Android app and web browser, the solution allows MSMEs to have a single registration for both e-invoice and e-way bill generation on the CaptainBiz mobile app or web browser.
The company said businesses would be able to get automatic data validation and generate unlimited e-invoices and e-way bills without the need for additional navigation to the GST portal.
Following the recent government mandate to link both critical documents, the e-way bill is automatically linked with the e-invoice. Also, MSMEs can have free storage of e-invoices for access even beyond the GST portal’s 24-hour deletion period without worry about data loss or lack of accessibility.
Further, MSMEs can cancel e-invoices or issue e-credit notes and e-debit notes from the platform itself instead of visiting the GST website for any invoice management tasks, CaptainBiz said.
Established in 2018, CaptainBiz helps MSMEs with digital billing, inventory management and tax reporting.
“E-invoicing is more than a technological shift; it’s a pivotal evolution reshaping India’s business landscape. By streamlining processes, enhancing compliance, and fostering transparency, it empowers MSMEs to thrive in a digital economy and CaptainBiz intends to be at the forefront of this evolution.” said Yashraj Vakil, CEO, CaptainBiz.
Importantly, the government introduced the e-way bill system back in 2018 for the movement of goods with consignments worth more than Rs 50,000. On the other hand, e-invoicing was launched in 2020 for businesses with a turnover of Rs 500 crore. However, over time the government has reduced the threshold based on company turnovers to Rs 5 crore and above to generate e-invoices for B2B sales and purchases.
The government has mandated e-invoicing for generating e-way bills to avoid mismatches beginning March 1 this year for transactions related to supplies under B2B and exports.