The Goods and Services Tax Network (GSTN) issued an advisory, imposing a time limit for reporting invoices on the Invoice Registration Portals (IRPs). As per the advisory, taxpayers with an annual aggregated turnover (AATO) greater than or equal to INR 100 crores will have to ensure the generation of an e-invoice within seven days of the invoice date. Taxpayers with an annual aggregate turnover of less than INR 100 crores are currently excluded from this requirement.
- What is the timeline?
- What will be the potential impact of this change?
- How can Fonoa help?
Source: www.fonoa.com
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