Page 16 - Plastics News December 2020

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“E-INVOICING SYSTEM – ARE YOU READY?” Held On 1 December 2020

KEYNOTE SPEAKERS

NIREN SHETHIA AJAYA KOCHUVILAYIL KRISHNA VEERATHU
Chartered Accountant, LLB Executive Director, Associate Director,
Webinar on PricewaterhouseCoopers PricewaterhouseCoopers
Private Limited Private Limited
'E-INVOICING SYSTEM -
ARE YOU READY?'
Media Partner
The Global Plastics Packaging Expo
JAN JAN JAN JAN JAN
st
1 Dec. 2020 4:00 - 5:30 19 20 21 22 23 VIRTUAL EVENT
TUE WED THU FRI SAT
Tuesday PM PM
Knowledge Partner: 2. How to comply with e-invoicing – detailed process flow
Price Waterhouse & Co LLP 3. Key issues in the e-invoicing process relevant to
Manufacturers / Goods Industry
The webinar started with Mr Deepak Ballani, DG - AIPMA,
introducing the President – Mr Chandrakant Turakhia who 4. Immediate steps to be undertaken by businesses from
gave the welcome address and Chairman Governing a technology standpoint, to ensure timely compliance
Council – Mr Arvind Mehta, set the tone of the program. with e-invoicing
Despite considerable advancement in technology, paper 5. How PwC can help:
invoices still seem to have a foothold within businesses, Ÿ Help you to understand the impact assessment of
large and small. The introduction of e-invoicing system in system readiness for e-invoicing;
India has fundamentally changed the way businesses
operate, offering an opportunity to move from archaic Ÿ Provide technology solutions to assist in the e-
invoicing practices to all new electronic real time invoicing process and integration with ERP.
exchange of invoicing data. Businesses (crossing a certain Our experts Mr. Niren Shethia, Chartered Accountant and
turnover threshold) are now required to report their Mr. Krishna Veerathu, Associate Director,
transactions to the Government, even before it goes to PricewaterhouseCoopers Private limited shared their
the counter party! knowledge and insights with us so we can apply it for a
The Government has successfully introduced the e- better understanding and development of our businesses.
invoicing system for Companies with turnover of more After the presentations by the experts, the floor was left
than INR 500 crores from 1 October 2020. Furthermore, open for Q/A round to provide the participant a direct
the Government has recently notified the applicability for opportunity to interact and clear their doubts with the
businesses with turnover more than INR 100 crores with expert.
effect from 1 January 2021, which will eventually get
Target Audience
introduced for all businesses in due course of time.
Business Owners, C- level Executives, Directors, Partners,
As this is a major business change, an assessment of
system readiness and implementation of required Start-ups & Entrepreneurs, Consultants, Tax and Finance
changes will be crucial for businesses. Given the one- Professionals and other interested participants.
month timeline for the new system to go live, it is This extremely interactive session was attended by over
imperative for all the industry players to understand the 100 participants who enjoyed the program tremendously
criticalities of the new system and undertake the and many came forward asking for the contact details of
necessary immediate actions prior to implementation, to the speaker to clear their doubts.
avoid any business disruptions.
The session ended with the vote of thanks.
Key Issues that were discussed: -
1. What is e-invoicing system and whom is it applicable
to.

DECEMBER 2020 16 Plastics News