Come August 1, an additional over 4 lakh assesses will be required to issue e-invoice mandatorily as the new threshold of aggregate annual turnover of Rs. 5 crore will be in place from said date.
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At present. the threshold is Rs.10 crore, which was Rs.500 crore when mandatory generation of e-invoice implemented from October 1, 2020. At present, around 6 lakh assesses are required to comply with this mandatory norm, which will swell to around 10 lakh after lowering the threshold, says Dheeraj Rastogi, an Indian Revenue Service Officer of 1994 batch and Executive Vice President with GSTN.
Read more at : business line
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