GST Council meet on Friday; pvt fintech firms set to enter e-invoicing zone

GST Council may green-light entry given disappointing progress

The Goods and Services Tax (GST) Council on Friday will discuss bringing in private financial technology companies to set up four more invoice generation portals (IRPs) in view of the unsatisfactory progress in e-invoicing. These will be in addition to the existing one being operated by the government’s National Informatics Centre (NIC).

Seven months since the launch of the e-invoicing facility under the GST regime to facilitate compliance and plug revenue leakages, only about half the eligible GST identification numbers (GSTINs) are generating these invoices, the government data shows.

This will facilitate handling large volumes of e-invoices amid plans to