What is the Full Form of IRN in GST?
IRN full form in GST is Invoice Reference Number. It is a special number that the government has assigned to identify and tag each legitimate e-invoice created in India starting on October 1, 2020. To provide a standard for all electronically generated bills, the e-invoicing system was implemented. Under the e-invoicing system, the Invoice Reference Number, often known as a hash, is a distinct number that is created by the Invoice Registering Portal using a hash generation method. A 64-letter invoice reference number must be established for each document, such as invoices or debit or credit notes, which is published on the invoice registration portal. Every invoice raised by a GSTIN in the whole GST system during a fiscal year would have a different ID number.
The IRN must also appear on every invoice that the supplier sends to his recipient. Using the invoice reference number, the tax officials can use both an offline app and the central portal to confirm the legitimacy of the transaction. In turn, it will enable them to examine the invoice even without an internet connection. A hash-generating algorithm is a mechanism that transforms a message or string of characters (alphabets, numbers, and other special characters) into a number set such that the resultant numbers cannot be used to decipher the original information. This algorithm will be outlined by the GSTN as a component of the e-invoicing standards.