E-invoicing for VAT/ GST

Electronic invoicing (“e-invoicing”) refers to adoption of standard that requires every business to issue invoice according to a prescribed electronic format that contains mandatory information which usually contains digitalized signatures for the authenticity as well as integrity purposes and can be transmitted to tax administration by specified electronic system in real time[1]. The Governments are looking for new ways of enforcing tax laws and for collecting more Value Added Tax by following the use of electronic Invoicing[2].

Source: gccfintax.com

---

---