Under the Goods and Services Tax (GST) regime, the government has enforced e-invoicing for companies having an annual aggregate turnover of Rs. 10 Cr. and above from October 1, 2022 onwards. From January 2023, businesses having a turnover of exceeding Rs. 5 Cr. will be subject to the same rules.
Following the announcement and government directive, businesses with annual revenues of more than Rs. 5 Cr. and Rs. 10 Cr. must now adapt their internal systems to the GST e-invoicing procedure.