Govt to make e-invoicing mandatory from April 1 for biz with 100 cr turnover

New Delhi, Nov 29 (KNN) The government has decided to make electronic invoicing (e-invoicing) mandatory from April 1 next year for businesses with a turnover of Rs 100 crore, according to a media report.

The e-invoicing system will be rolled out in a phased manner from January 1 on a voluntary and trial basis, beginning with firms with a turnover of Rs 500 crore, while businesses with a turnover of Rs 100 crore or more will be required to do it from February 1.

''Businesses with turnover of Rs 100 crore or more would start e-invoicing on voluntary and trial basis from February 1, 2020. However, from April 1, 2020, which is also the beginning of the net fiscal, e-invoicing will be mandatory for both these businesses categories. For businesses having turnover less than Rs 100 crore, it would remain voluntary and on trial basis from April 1, 2020,'' the report quoted a government official as saying.

The move comes at a time when the GST collections have been dismal and government to boost it.

E-invoice would not mean generation of invoices from a central portal of tax department or GSTN and the taxpayer would continue to use his accounting system/ERP or excel based tools or any such tool for creating the electronic invoice as s/he is using today.

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