|Update:||Compliance Alert - E-invoicing mandate scope further extended|
The Indian Central Board of Indirect Taxes (CBIC) announced a change to the e-invoicing mandate threshold.
Starting 1 April 2022, e-invoicing will be mandatory for taxpayers with revenues exceeding INR 20 crores (ca. 2,4 million EUR).
Currently, taxpayers with revenues of INR 50 crores (ca. 5,6 million EUR) are required to issue e-invoices. The new mandate will be the fourth segment of a now 4-part gradual roll-out, started in 2020.
The gradual lowering of the threshold aims to get more taxpayers to transmit e-invoices and tax data using the mandatory infrastructure in India, Invoice Registration Portal (IRP).