As you are aware, the Government has recently implemented the system of e-invoicing in India (with effect from 1 October 2020). At present, this requirement is applicable only to taxpayers with aggregate turnover exceeding INR500 crore for any financial year (2017-18 onwards). As a next step, the Government has notified that, with effect from 1 January 2021, e-invoicing provisions shall be applicable to all taxpayers with aggregate turnover exceeding INR100 crore.
It is necessary to understand the impact of e invoicing on business operations and ensure readiness of Company IT systems for a seamless transition to e-invoicing.
KPMG in India hosted a live webinar and discussed the following:
Partner and Head Indirect Tax – KPMG in India