E-Invoicing Current Affairs, GK & News

Threshold for Mandatory e-invoicing Lowered to ₹50 Crore

The Central Board of Indirect Taxes and Customs (CBIC) recently notified that the finance ministry has decreased the threshold for mandatory e-invoicing from rupees 100 crores to rupees 50 crores. This new rule will come into effect from April 1, 2021. Highlights e-invoicing involves the reporting details of the specified Goods and Services Tax documents ..

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Govt. notifies e-invoicing for companies with Rs 500-crore turnover

The government has notified an e-invoicing system under the Goods and Services Tax regime which makes it compulsory for the large-scale businesses with a turnover of more than Rs 500 crore to submit the invoices on electronic mode only. Impact This notification is a relief for small businesses as the turnover threshold has been hiked ..

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