E-invoicing to be mandatory for businesses exceeding ₹10 cr turnover from Oct 1
FinMin issued the notification on lowering the threshold based on the GST Council recommendations
E-invoicing for businesses with aggregate turnover exceeding ₹10 crore will be mandatory from October 1. Presently, e-invoice is compulsory for businesses with an annual turnover of over ₹20 crore.
Businesses with an annual turnover of more than ₹10 crore and then for more than ₹5 crore will soon be required to issue e-invoice.