The government is considering a new cut in the annual sales threshold to Rs 5 Crore for taxpayers mandated to adopt Indian e-invoicing. This will come into effect from 1 January 2023. This will help further identify fake ITC claims, estimated to cost the country RS 50,000 Crores per annum.
Source: VAT Calc
Latest Posts in "India"
- VAT Pre-Deposit Refund Must Be Paid in Cash Under GST, Rules Madras High Court
- Karnataka High Court: Limitation for GST Refund Mandatory, Delay Condonable Under Writ Jurisdiction
- Karnataka High Court: GST Refund Limitation Mandatory, Delay Condonable Under Writ Jurisdiction
- GST Refund Limitation is Mandatory, but High Courts Can Condon Delay in Genuine Hardship Cases
- DGFT Tightens Certificates of Origin Rules, Mandates Automated Verification and Authorised Issuance
