E-invoicing is mandatory for MFDs with annual commission income of over Rs.5 crore

It is mandatory for large distributors having gross commission income of over Rs.5 crore to raise e-invoice.

Under the GST Invoice Upload section, distributors have to first declare whether they are uploading the invoice as an individual or on behalf of a corporate entity. They can then choose between a Computer Age Management Services (CAMS)-generated invoice and their own invoice format.

However, distributors with annual turnover above Rs.5 crore cannot use the CAMS-generated invoice option and have to opt for their own invoice format.

CAMS also provides two ways to sign and submit invoices.             

The signature-upload facility carries an annual fee of Rs.100, according to the process document. First-time users are required to accept the terms and conditions and complete OTP authentication.

Further, CAMS has laid out a detailed process for mutual fund distributors (MFDs) to download, sign and upload GST invoices through its online distributor portal.

The process requires distributors to log in to the CAMS portal using the email address registered with the CAMS Distributor Mailback Service. MFDs can then select the relevant AMCs under the Mutual Fund section and access the GST Invoice Management facility.

Individual AMC or multiple AMCs can be uploaded

For distributors uploading invoices manually, CAMS provides two options: AMC-wise upload and Multi-AMC Batch Upload through Excel. The AMC-wise option is intended for uploading invoices individually while the batch facility allows signed invoices for multiple AMCs to be uploaded in a single process.

For the Multi-AMC Batch Upload facility, distributors have to select the payment month and year and download the Excel template. They then need to upload a ZIP file containing the signed invoice PDFs and update the Excel file with the corresponding invoice filenames. The filenames in the ZIP file must exactly match those entered in the Excel file, although the file extension need not be specified.

For CAMS-generated invoices, the broker invoice number can be left blank. For user-defined invoices, the broker invoice number has to be entered against the corresponding CAMS invoice number. Where multiple invoices are generated against a single CAMS invoice, distributors have to create separate rows in the Excel file and provide the respective GST and taxable values. The GST number must remain the same across all such rows.

System validates GST and taxable values

Once the Excel file is uploaded, the system displays the computed GST amount and taxable value for each invoice and AMC. The distributor has to continue after reviewing the details, following which the system validates the uploaded information against values computed by the RTA.

The submit option becomes available only after all uploaded invoices successfully pass validation. Once submitted, an acknowledgement is generated for each invoice and an email containing the corresponding AMC codes is sent to the distributor’s registered email address.

For individual invoice uploads, distributors have to enter details such as GST number, applicable GST amount, taxable value and confirm that the MFD’s signature is available on the invoice. The information is then validated against CAMS-computed values. Any mismatch is flagged for corrective action, while successfully validated invoices are queued for approval.

GST claim status can be tracked online

CAMS has also provided an Invoice Status facility through which MFDs can track the status of their GST invoice submissions.

The status can appear as “Pending for BO Review” when the invoice has been successfully uploaded and is awaiting review. “Approved” indicates that payout of the applicable GST amount will be initiated in the next payout cycle, while “Rejected” means the MFD needs to rectify the issue and re-upload the invoice.