The E-Invoicing turnover threshold to be increased to Rs 500Cr from Rs 100Cr
As per news update, now taxpayers with a turnover of Rs 500 crores or more have to comply with E-Invoicing. The CBIC will soon announce this within a week. Earlier the threshold for E-Invoicing was Rs 100 Cr.
This news was confirmed by a top official in the ASSOCHAM webinar. The Central Board of Indirect Taxes and Customs will in a week’s time come out with a notification.
E-invoicing, a form of electronically-authenticated invoices, is applicable from 1 October 2020.
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