Pvt cos may issue e-invoice: Fintech see scope in data, access to biz users

While e-invoicing alone may not generate high revenues, the key lies in the way fintechs leverage the data of enterprises to offer other products such as credit or supply chain finance

Allowing private fintech firms to issue GST e-invoices-–a proposal under consideration-–may bring forward innovative solutions that will ultimately yield higher adoption, said chief executives of some key fintechs. Such firms that may be eligible to apply said the interest is based on access to data and the opportunity to sell value-added products to businesses on top of e-invoice facilities.

As part of the Goods and Services Tax, the government in October 2020 launched 'e-invoice', with the idea that all local business trades get recorded in the GST database for quicker and more efficient GST reconciliation. Currently, the software is operated