To Crub GST Evasion: B2B Invoices Will Be Generated on Govt Portal by Sept 2019
All invoices for business-to-business sales by entities beyond a specified turnover threshold will be generated on a centralised Government portal by September, a move aimed at curbing the menace of fake invoices and evasion of GST, officials said.
The revenue secretary is monitoring the progress of implementation of electronic or e-invoice project for which an officers’ committee has already been set up, they added.
“E-invoice for B2B transactions will be rolled out in next three-four months in a phased manner. The entire invoice would have to be generated on a Government portal,” an official told media.
The move will help in curbing Goods and Services Tax (GST) evasion through issue of fake invoices. Besides, it would make the returns filing process simpler for businesses as invoice data would already be captured by a centralised portal.
“Once rolled out, the e-invoice project will allow businesses to simultaneously generate e-way bill, if needed,” the official added.
