New Delhi, Nov 8 (PTI) CBIC Chairman Sanjay Kumar Agarwal on Wednesday said the department will soon start sending advisories to businesses that are non-compliant on issuing e-invoices to their B2B customers.
The Central Board of Indirect Taxes and Customs (CBIC) has started making e-invoice mandatory for businesses in a staggering manner beginning 2020.
E-invoicing was initially implemented for large companies with turnover of more than Rs 500 crore, and within 3 years the threshold has now been lowered to Rs 5 crore.
"From August 1, businesses with turnover of over Rs 5 crore are required to issue e-invoices. There I would like to mention that those who had to file e-invoices as per law, there the compliance level is not very high.
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"We will be sending advisory to such taxpayers to issue e-invoices. We do not want to adopt an approach which is intimidating so we want to initially adopt soft approach and nudge them to issue e-invoices," Agarwal said at a CII event here.
The details furnished in e-invoices are auto populated in monthly and quarterly GST returns.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)













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