E-invoicing may begin under GST

GST e-invoice system on govt portal to reduce tax evasion Govt plans to launch GST e-invoices to curb tax evasion In order to pull the plug on GST evasion, the government is working on a mechanism wherein businesses with a turnover exceeding a particular amount will have to generate electronic invoice either on a government portal or on the Goods and Services Tax (GST) portal. 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 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...