Electronic invoice (e-invoice) was introduced in the 35th GST Council meeting, applicable to taxpayers in a phased manner. As per the latest notification, e-invoicing has been made mandatory w.e.f. 1st October 2020, for taxpayers whose aggregate turnover (based on PAN) in a financial year, exceeds INR. 500 crores, subject to certain exempted entities like SEZ Units, Insurance Companies, Banks (including NBFCs), Goods Transport Agency (transporting goods by road in goods carriage), Passenger Transport Services, and Multiplex Cinema Admissions.
Source: mastersindia.co
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