By CA Bimal Jain
Important Facts to Note:
Following the successful implementation of e-invoicing in the B2B sector, the GST Council recommended the rollout of a pilot for B2C e-invoicing.
Potential Benefits of E-Invoicing:
The Council recognized potential benefits of e-invoicing in retail, such as improved business efficiency, being environmentally friendly, cost-efficiency for businesses , etc.
It would also provide an opportunity for retail customers to verify the reporting of the invoice in the GST return.
Refund to foreign tourists : When they buy goods in India and take them back, it’s considered an export of those goods. With B2C e-invoicing, customs authorities at the airport will be able to verify the same for granting refunds to foreign tourists.
It will also help in reducing tax evasion.
Introduction in a Phased Manner: The pilot project will be rolled out on a voluntary basis in selected sectors and states.
GST Portal to be Set Up for B2C E-Invoice: A portal will be set up in a similar fashion to what was done for B2B e-invoicing.
Share this content: