E-invoicing likely to be made mandatory from Jan, 2023 for the taxpayers having turnover above ₹5 cr, and the threshold will be further reduced to ₹1 cr to plug revenue leakages and improve compliance.
Businesses with annual turnover of over ₹5 crore will have to move to e-invoicing under goods and services tax (GST) from January 1. The GST Network has asked its technology providers to make the portal ready to handle the increased capacity by December, a government official privy to the development, told ET.
Source a2ztaxcorp
