1st October 2021 marks the one-year completion of e-invoicing in India. Presently, the system adoption rate stands at 80% and is likely to increase even further. However, just like constant GST law changes, e-invoicing is also evolving and is undergoing changes. All the taxpayers that fall under the threshold, need to take note of the changes/updates mentioned in this article.
Understanding E-invoicing and QR code generation for B2C transactions made easy! Also read, all about QR Codes in case of B2C invoices and transactions.
The GST Council in its last meeting pushed the e-invoicing mandate to 1st Oct 2020. Here are 5 key areas which need to be strategized considering the overall impact of e-invoicing on current practices, cost and efforts.
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This new invoicing system is expected to be rolled out on a voluntary basis from January 2020 onwards. More information on the implementation model and final formats are anticipated to be released in the coming weeks.