E-Invoicing/E-Invoice is a form of electronic billing which is increasingly mandated by Governments across the World due to tax evasion. In India, the Government introduced e-invoicing in mid of the financial year 2020 with businesses having aggregate turnover above Rs. 500 Crore. The limit of Rs. 500 Crore turned to Rs. 100 Crore from 1st January 2021 then to Rs. 50 Crore from 1st April 2021 and now it is Rs. 20 Crore from 1st April 2022. Interestingly, if the turnover in any of the financial years from 2017-18 till now crosses the aggregate turnover limit then e-invoicing is applicable.
Source Taxguru
