GST e-invoicing must for businesses with Rs 100-cr turnover from April 1

It will be voluntary for businesses with less than Rs 100-cr turnover; will help SMEs take instant loans

From April 1 next year, electronic invoicing (e-invoicing) will be mandatory for businesses with a turnover of Rs 100 crore, the government said on Thursday.

This will help curb goods and services tax (GST) evasion and make compliance easier.

The e-invoicing system will be rolled out in a phased manner from January 1 on a voluntary and trial basis, beginning with firms with a turnover of Rs 500 crore, while businesses with a turnover of Rs 100 crore or more will be required to do it from February 1.

"The basic aim behind the adoption of the e-invoice system is