Government Plans to Mandate E-Invoice for B2C Transactions in 2-3 Years

• The government plans to make it mandatory for businesses to issue e-invoices for B2C transactions in the next 2-3 years.
• Currently, businesses with a turnover of Rs 5 crore and above are required to generate e-invoices for B2B transactions.
• The government is working on upscaling GST systems to bring B2C transactions under e-invoicing.
• Businesses with a turnover between Rs 5-10 crore are not fully issuing e-invoices, and non-compliant businesses are being encouraged to do so.
• E-invoicing has been made mandatory for businesses in a staggered manner based on turnover thresholds.

Source:

• a2ztaxcorp.com
• Taxscan

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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• See also Worldwide Upcoming E-Invoicing mandates, implementations and changes – Chronological

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