03.23.22

Lower threshold for e-invoicing from 1st April 2022

The Central Board of Indirect Taxes & Customs (CBIC) of India recently issued a notification (01/2022) lowering the threshold for mandatory e-invoicing under Goods and Services Tax (GST).

As of present, e-invoicing is mandated for all taxpayers whose annual revenue is ₹50 crore or above. From 1st April 2022, the revenue threshold for mandatory e-invoicing will be reduced to ₹20 crore. By extending the scope of e-invoicing, the government is expected to enhance tax compliance among small businesses in the country.