As per the GST guidelines, it will be mandatory for companies with a B2B transaction value of ₹5 crore, to produce an electronic invoice. Earlier, companies with an annual revenue of ₹10 crore or above were required to generate e-invoice.
On July 28, the Central Board of Indirect Taxes and Customs tweeted about the change in rule. In its tweet, the CBIC informed that GST Taxpayers whose aggregate turnover is more than ₹5 crore in any financial year, have to mandatorily produce e-invoice for B2B supply of goods or Services or both, or for exports from 1 August 2023.
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