VATupdate

The Government may shelve new GST returns and increase the turnover limit for e-invoicing

The Principal Commissioner GST Policy at CBIC has hinted at the government’s plans to shelve the implementation of the new return filing mechanism – which was earlier proposed to be implemented with effect from 1 October 2020. Further, he also shared that the government is set to increase the turnover limit for the applicability of e-invoicing to businesses to INR 500 crore from the earlier prescribed threshold of INR 100 crore for all B2B supplies.

Source: skpgroup.com

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