Renowned for its diversity, India is taking the same approach to its e-invoicing framework. There have been several changes and new possibilities included in the required processes and technical (“JSON”) invoice schema since e-invoicing was introduced. Such changes are unsurprising as many of the existing Continuous Transaction Controls (CTC) systems regularly bring new elements to their digital tax controls, often extending their scope into new areas. Even in the most mature of CTC systems, like in Chile, Mexico and Turkey, such changes are frequent and are inevitably keeping taxpayers on their toes. The concept of CTC is still relatively new. Since their original introduction some 10-15 years ago, tax authorities have become wise to the benefits they can bring and as a result we see new CTC regimes being introduced and existing ones constantly tweaked to further optimize tax controls.
The new Indian e-invoicing requirements haven’t even entered into force yet, but they have changed many times since they were first published. It would be a mistake to view these changes prior to the mandate deadline as a certain sign that this deadline will, once again, be extended; indeed, change is just about the only thing that’s constant in all CTC regimes, prior to and after entry into force of regulatory mandates.
Source: SOVOS
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