All invoices for business-to-business sales by entities beyond a specified turnover threshold will be generated on a centralised government portal by September, a move aimed at curbing the menace of fake invoices and evasion of GST, officials said.<\/p>\n\n\n\n
The revenue secretary is \nmonitoring the progress of implementation of electronic or e-invoice \nproject for which an officers\u2019 committee has already been set up, they \nadded.<\/p>\n\n\n\n
The move will help in curbing Goods and Services Tax \nevasion through issue of fake invoices. Besides, it would make the \nreturns filing process simpler for businesses as invoice data would \nalready be captured by a centralised portal.<\/p>\n\n\n\n
Depending on the \nsuccess of the project in the B2B segment, the revenue department would \nbe looking at extending it to business-to-consumer sales, especially in \nsectors where the probability of tax evasion is high.<\/p>\n\n\n\n
Businesses \nbeyond the specified turnover threshold, to be decided later, would be \nprovided a software which will be linked to the GST Network or a \ngovernment portal for generating e-invoice. The threshold can also be \nfixed on the basis of the value of invoice.<\/p>\n\n\n\n
The e-invoice \ngeneration method will be similar to the one being followed for e-way \nbill on the \u2018ewaybill.nic.in\u2019 portal or payment of GST on the GSTN \nportal.<\/p>\n\n\n\n
A 13-member officers\u2019 committee, comprising central and \nstate tax officials as well as the GST Network Chief Executive, has been\n set up to look into the feasibility of introducing e-invoice system to \nstreamline generation of invoices and easing compliance burden. The \ncommittee will finalise its interim report this month.\n\n<\/p>\n","protected":false},"excerpt":{"rendered":"
All invoices for business-to-business sales by entities beyond a specified turnover threshold will be generated on a centralised government portal by September, a move aimed at curbing the menace of fake invoices and evasion of GST, officials said. The revenue secretary is monitoring the progress of implementation of electronic or e-invoice project for which an […]<\/p>\n","protected":false},"author":1,"featured_media":60675,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[410],"tags":[],"class_list":["post-60674","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/60674","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/comments?post=60674"}],"version-history":[{"count":1,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/60674\/revisions"}],"predecessor-version":[{"id":60676,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/60674\/revisions\/60676"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media\/60675"}],"wp:attachment":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media?parent=60674"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/categories?post=60674"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/tags?post=60674"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}