The impact of the GST and E-invoicing on businesses in India

In India, the introduction of the GST took place five years ago, while the e-invoicing mandate was introduced roughly two years ago. E-invoicing has brought about a revolutionary change in the business environment. The government streamlined the whole compliance environment, including input tax credit (ITC) claims, using the "one nation, one tax" philosophy.

E-invoicing has significantly streamlined reporting and tax compliance in the country. Currently, the mandate is applicable for businesses with an AATO of Rs. 10 Cr. and the threshold is said to reduce further.