E-invoicing Mandatory for Businesses with AATO of Rs. 5 Cr.

From January 1, 2023, companies with an annual aggregate turnover of Rs. 5 Cr. and above will be required to generate e-invoices. The current e-invoicing mandate is applicable for businesses with an AATO of Rs. 10 Cr. and above. E-invoicing has been introduced and implemented to bring in more transparency and reduce tax frauds. Soon, the mandate will be extended to all businesses in the country.