TrustWeaver expands with e-invoicing compliance support in India

February 7, 2017  |  Asia, Compliance

TrustWeaver is a leading vendor of Cloud-based trust and compliance services for invoices and other legally critical electronic documents. For the first time, the company can offer customers unique support for tax compliant exchange and archiving of electronic invoices in India.

TrustWeaver’s solution now supports all Indian business-to-business services invoices, as well as invoices subject to Central Excise Duty, a tax on the sale of certain goods. These are currently the only two Indian transaction taxes that permit nation-wide electronic invoicing.

The launch is an important pre-emptive step for TrustWeaver, ensuring the company’s readiness for the so-called Goods and Services Tax (GST) that India plans to introduce later this year.  The GST will replace all similar taxes and its introduction is expected to have a major impact on the Indian economy and public administration.

TrustWeaver creates and validates compliant Indian digital signatures on demand so that the Indian tax administration can easily verify that invoices are real and unchanged when they audit a taxpayer. TrustWeaver’s archiving service meets the requirements for storing these invoices for the mandatory eight years and provides easy access for the Indian tax administration.

The new services for India are accessible through the same simple solution that already enables compliant e-invoicing and e-archiving for more than 55 countries. The service is instantly available to the more than sixty leading business transaction automation platforms that already connect to TrustWeaver to guarantee invoice compliance for millions of enterprises globally.

Dag Hedfors, TrustWeaver’s Director of Product Management:
“Our legal and technical compliance experts have been monitoring and analyzing the requirements in India for well over a year. We are now very well positioned to support India’s e-invoicing today, and also through the exciting changes the country is planning to make to its indirect tax regime in the near future. As always, our service for India meets the high performance requirements of our partners, many of which are aggressively expanding their business networks and global presence.”

For more information please contact [email protected]

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