E-Invoicing under GST has been progressively implemented for businesses across India. Currently, any business with an aggregate turnover exceeding the prescribed threshold in any preceding financial year must generate E-Invoices for B2B transactions.
Key details to look out for:
- Generating Invoice Reference Number (IRN) through the Invoice Registration Portal (IRP).
- Mandatory QR Code printing on invoices.
- Penalties for failure to generate E-Invoices can go up to Rs. 10,000 per invoice.
Need help with this compliance?
Get a free consultation from Raipur's leading CAs.