The announcement comes in response to the demand from large buying organisations on the Tungsten Network who see opportunities in the fast-developing market.
Tungsten customers will now have the ability to send and receive legally compliant electronic invoices for services and excise across India, as well as to create legal invoices for goods in the following eight states: Chandigarh, Delhi, Himachal Pradesh, Karnataka, Maharashtra, Punjab, Rajasthan and West Bengal.
The expansion is a direct result of Tungsten’s efforts to obtain clarification from the Indian government around whether digital signatures are legally permitted to prove the authenticity of invoices. Tungsten received this clarification directly from the Indian government, at both national and state levels, and was supported in its endeavours by partners PriceWaterhouseCoopers and TrustWeaver.
TrustWeaver, a vendor of cloud-based trust and compliance services, will provide Tungsten with compliant digital signatures on demand, allowing the Indian tax administration to easily verify that invoices are real and unchanged when they audit a taxpayer.
India becomes the 48th country in which the Tungsten Network creates valid, legally accepted documents. Tungsten processes invoices from suppliers in 196 countries.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now