E-invoice mandatory for MSMEs with over Rs 50 Cr turnover from April 1

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The government has made it mandatory for businesses with over Rs 50 crore turnover to generate e-invoices for B2B transactions from April 1.
Under Goods and Services Tax (GST) law, e-invoicing for business-to-business (B2B)
transactions has been made mandatory for companies with turnover of
over Rs 500 crore and Rs 100 crore from October 1, 2020, and January 1, 2021, respectively.
E-invoicing will be extended to companies with turnover over Rs 50 crore from April 1, the Central Board of Indirect Taxes and Customs (CBIC) said in a notification.
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Under e-invoicing, taxpayers have to
generate invoices on their internal systems (ERP/accounting/billing software), and then report them online to the Invoice Registration Portal (IRP).

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