InvoiceNow: The What, Why and How | Part 8: Adapting to Meet GST InvoiceNow Requirement

Once your InvoiceNow-Ready solution is all set up for your GST-registered business, you’ll need to ensure that it is adapted to meet the GST InvoiceNow Requirement. In this video, we guide you through the key technical and compliance considerations, from understanding GST category codes to preparing and testing your system – so you can meet the requirements with confidence. 00:00 Introduction 01:31 Understanding of the overall system 02:50 Types of data flow 04:24 Two unique IDs for traceability 05:57 Activating C5 06:27 Preparing the invoice data for submission and transmission 06:36 GST category codes 07:40 Data packaging 08:57 Attachments 09:31 Embedding document and transmission UUID into SBDH 11:25 Reporting, reconciliation and other information 13:43 How often invoice data should be sent to IRAS 15:58 C5 test scenarios and sample scripts Learn more about InvoiceNow here: http://imda.gov.sg/invoicenow 🔗Useful links IRAS e-Tax Guide (Adopting GST InvoiceNow Requirement for GST-registered Businesses): go.gov.sg/iras-gstinvoicenowguide Working with Peppol Format:    • InvoiceNow: The What, Why and How | Part 5...   Solution Integration and Enhancements:    • InvoiceNow: The What, Why and How | Part 6...   InvoiceNow Technical Playbook: https://go.gov.sg/invoicenow-playbook Available C5 test scenarios and sample scripts that can be used to simulate invoice submissions: https://go.gov.sg/gstinvoicenowreq-re... #IMDA #IMDigitalArchitect #InvoiceNow #Digitalisation #WhatAreYouWaitingFor #Invoice #Tech