Govt plans to make GST e-invoicing must for companies with Rs 5-cr turnover

At present, any firm with Rs 20-crore turnover is mandated to file this

The government is planning to make GST e-invoicing mandatory for companies with a turnover of Rs 5 crore and above, thus bringing the threshold down from the current Rs 20 crore, according to a government official.

This could happen this fiscal year. First this could apply to entities with a turnover of Rs 10 crore and then to Rs 5 crore. This is for plugging revenue leakage and ensuring easy compliance, said the official, who is privy to the plan.

The move is aimed at digitising higher volumes of transactions, greater transparency in sales reporting, minimising errors and mismatches, automating data entry