From Jan 1, e-invoicing mandatory for firms with turnover Rs 100 cr or more

The government has made it mandatory for companies with annual turnover of at least Rs 100 crore to go for e-invoicing for business to companies (B2C) transactions from January 2021.  It has come out with a notification to this effect.

Currently, e-invoicing is mandatory for companies with annual turnover of at least Rs 500 crore. While it was made mandatory from October, the government had put off penalty for errant companies for at least one month.

Abhishek Jain, tax partner at EY, said," Aligned to the recent communications by various government officials, e-invoicing has now been notified for companies with