The Indian Ministry of Finance issued Notification No. 10/2023 on 10 May 2023 whereby it reduced the threshold limit for complying with the GST e-invoicing system. As of 1 August 2023, taxpayers with at least Rs 5 Crores turnover [approx. USD 600,000] must generate e-invoices according to the e-invoicing system.
Source: sovos.com
Latest Posts in "India"
- GST 2.0: Key Changes, New Rates, and Business Impact Explained
- Guide to GST Refunds for Unregistered Persons: Cancelled Service Contracts Explained
- India Reduces GST on Solar and Wind Equipment to 5%, Cutting Renewable Energy Project Costs
- India Unveils Next-Gen GST: Simplified Tax Structure, Lower Rates, Boosts Business and Affordability
- Piyush Goyal Urges Industries to Pass GST Benefits to Consumers for Economic Growth
