- E-invoicing is set to become mandatory for GST taxpayers with an annual turnover over INR 1.5 crores by 2024.
- This initiative will replace the e-way bill system and is expected to affect taxable persons from next year onwards.
- The government has been gradually implementing e-invoicing over the past few years and lowering the turnover threshold to INR 1.5 crores would bring more businesses under its ambit.
- However, a formal announcement regarding this change has not yet been made.
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