More businesses to come under e-invoicing scheme from 1 Aug

More businesses will be brought under the e-invoicing scheme meant to track business-to-business sales from August and small businesses will be allowed to sell through e-commerce platforms without a Goods and Services Tax (GST) registration from October, said an official.

- Gireesh Chandra Prasad

The e-invoicing scheme that covers all sales other than at the retail level, is a reporting requirement of transactions to designated portals meant to improve compliance.

The data reported at the time of the transaction helps to pre-fill tax returns, brings efficiency and accuracy in reporting and reduces disputes.

Shashank Priya, Member (GST) in the Central Board of Indirect Taxes and Customs (CBIC) said at a conference organized by industry body Ficci that the game-changing step of introducing e-invoicing in 2020 will be further expanded in August.