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Business with turnover of ₹ 100cr to generate e-invoice for B2B sales

October 11, 2020

Business with turnover of ₹ 100cr to generate e-invoice for B2B sales

E-invoicing take-up has seen monstrous improvement with over 69.5 lakh Invoice Reference Number (IRN)s produced between October 1 and October 7, senior authorities said.

On the absolute first day of e-invoicing framework, more than 8.40 lakh IRNs were created by 8,453 clients while on October 7, about 13.69 lakh IRNs were produced by 14,100 clients. More than 69.5 lakh IRNs were produced by exactly 71,000 clients.

“It is an extraordinary advance forward as e-invoicing has numerous points of interest both for the business and the assessment organization. Purchasers and venders will have the option to have ongoing data of the solicitations,” said account secretary Ajay Bhushan Pandey after a significant level gathering went to by the GST and CBIC authorities including Board individuals and senior authorities of NIC and GSTN.

The electronic invoicing framework for business to business exchanges was executed on an obligatory reason for organizations with turnover above Rs 500 crore kicked into impact from October 1.

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