GST: e-invoicing mandatory with a turnover of ₹5 crore or more from August 1 2023.

New GST E-invoicing notification: 

The Finance Ministry has issued a notification announcing reduction in threshold limit for GST E-invoicing. Businesses with a turnover of ₹5 crore or more will be required to adopt e-invoicing from August 1, whereas the current threshold stands at ₹10 crore. 


GST E-invoicing

E-invoicing was initially implemented in 2020 for large companies with turnover of more than Rs 500 crore, and within 3 years the threshold has now been lowered to Rs 5 crore. E-invoicing for business-to-business (B2B) transactions was made mandatory under GST law for companies with annual revenues over Rs 500 crore starting on October 1, 2020, and then for those with annual revenues over Rs 100 crore starting on January 1, 2021.


GST E-invoicing

Companies that had a turnover of more than Rs 50 crore started producing B2B e-invoices from April 1, 2021. from April 1, 2022, the barrier was reduced to Rs 20 crore. The threshold was further reduced to Rs 10 crore as of October 1, 2022. 

Location: India

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