After successful implementation in more than 100 countries globally including France, Australia, Sweden, South Korea, Singapore, Brazil, Germany, Italy, e-invoicing has finally made its entry in India. The new compliance reform is expected to bring about a paradigm shift in indirect tax administration in the country. Obviously, no reform is without its fair share of challenges.
With phase II of e-invoicing roll out from January 1, 2021, there is an urgency for organisations meeting the new turnover threshold need to acquaint themselves with its mechanism, transition their invoice as well as GST management process and also address any potential bottlenecks arising in the process.
Source Avalara
