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Businesses in India with an aggregate annual turnover of over Rs 100 crore will now have a time limit of 30 days to report e-invoices under the goods and services tax (GST) system. This decision by the GST Authority amends the previous proposal of a seven-day time limit, taking into account concerns raised by businesses.
Businesses in India with an aggregate annual turnover of over Rs 100 crore will now have a time limit of 30 days to report e-invoices under the goods and services tax (GST) system. This decision by the GST Authority amends the previous proposal of a seven-day time limit, taking into account concerns raised by businesses.
Move aimed at boosting collections and improving compliance under the GST, which has been a focus area for the tax authorities
GST e-invoicing will become mandatory for all businesses in India with an annual turnover of over INR 50 million starting August 1, 2023.
IRIS Business Services has announced the launch of IRIS Invoice Registration Portal, one of the first private invoice registration portals authorized by the government of India to authenticate B2B and export invoices along with credit/debit notes.