The Indian Ministry of Finance issued Notification No. 10/2023 on 10 May 2023 whereby it reduced the threshold limit for complying with the GST e-invoicing system. As of 1 August 2023, taxpayers with at least Rs 5 Crores turnover [approx. USD 600,000] must generate e-invoices according to the e-invoicing system.
The GST e-invoicing system in India is a type of continuous transaction controls (CTCs) and is mandatory for B2B and B2G invoices. Taxpayers are obliged to issue these invoices in a specific electronic format and according to these e-invoicing rules. For further details regarding Indian e-invoicing, you can visit our website.