- The government plans to make it mandatory for businesses to issue e-invoices for B2C transactions in the next 2-3 years.
- Currently, businesses with a turnover of Rs 5 crore and above are required to generate e-invoices for B2B transactions.
- The government is working on upscaling GST systems to bring B2C transactions under e-invoicing.
- Businesses with a turnover between Rs 5-10 crore are not fully issuing e-invoices, and non-compliant businesses are being encouraged to do so.
- E-invoicing has been made mandatory for businesses in a staggered manner based on turnover thresholds.
Source:
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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