On the ANVIL : GST e-invoice generation system on govt portal
GST officers are working on a system where businesses above a certain turnover threshold will have to generate 'e-invoice' on government or GST portal for every sale, thereby effectively reducing the room for tax evasion.
New Delhi: GST officers are working on a system where businesses above a certain turnover threshold will have to generate 'e-invoice' on government or GST portal for every sale, thereby effectively reducing the room for tax evasion.
To start with, businesses above a specified threshold will just get a unique number for every electronic invoice or e-invoice generated.
This number can be matched with the invoices reported in the sales return and taxes paid, an official said.
Going forward, businesses will be required to generate full electronic-tax invoice or e-invoice recording entire value of sales.
The official said that businesses beyond a turnover threshold would be provided a software which will be linked to GST or a government portal for generating e-invoice.
The threshold can also be fixed on the basis of the value of invoice.
