E-Invoicing_The Way Forward
21 August 2020
E-invoicing has been a matter of debate ever since the concept was first discussed in the 35th GST Council meeting in June of 2019. It is touted as one of the most ambitious reforms in the administration of the Goods & Services Tax (GST).
Right from raising invoices in a common schema, to guaranteeing credibility of the said invoices including authentication in the Invoice Registration Portal (IRP) of the Government, automating the indirect tax ecosystem, lends transparency and uniformity to implementation of GST.
Recently the Central Board of Indirect Tax & Customs (CBIC) CBIC, notified that e-invoicing will be implemented in India in a phased manner from 01 October 2020 for businesses with turnover, over INR 500 crores and subsequently for other businesses as well.
To help businesses gear up to embrace the new system, we at BDO India organised E-INVOICING - THE WAY FORWARD, a webinar to highlight focus areas, that eligible corporations need to assess to ensure compliance, and what variables would play a key role in successful implementation of e-invoicing.