E- invoicing mandatory for businesses with aggregate turnover of Rs 5 crore

GST: E- invoicing mandatory for businesses with aggregate turnover of Rs 5 crore from August 1 Starting August 1, businesses with aggregate turnover of Rs 5 crore or more will have to mandatorily opt for e-invoicing under the Goods and Services Tax (GST). “GST taxpayers whose aggregate turnover exceeds Rs 5 crore in any financial year ... Generating e-invoices for both supply of goods or services or both, or for exports will be mandatory from August 1,” the Central Board of Indirect Taxes and Customs tweeted on Friday.In May, the CBIC had notified the lower threshold that would come into effect from August 1. The move is aimed at boosting collections and improving compliance under the GST, which has been a focus area of tax authorities. [Read more]( If you would prefer not receiving our emails, please [Click Here](