e-Invoice under GST is now mandatory
Latest update regarding e-invoice under gst.
e-Invoice is now mandatory for businesses having Annual aggregate turnover above Rs.20 Crore for B2B supplies in any preceding financial year from 2017-18 onwards.
This e-invoicing rules will be applicable from 1st April 2022.
What is e-Invoice under GST?
e-Invoice is a System developed for GST registered person for generating and uploading all the B2B invoices to the Invoice Registration Portal (IRP).
IRP generates digitally signed e-invoice and QR code, with a unique Invoice Reference Number (IRN) to the user.
Statistics on e-Invoice as on Date
Total number of e-Invoices generated in the month of July 2022 – 13.21 Crores
Total number of e-Invoice generated till date from the date implementation (22 months): 200 Crores