{"id":94,"date":"2022-07-12T12:10:48","date_gmt":"2022-07-12T06:40:48","guid":{"rendered":"https:\/\/www.aakashinfo.com\/blog\/?p=94"},"modified":"2022-07-12T12:11:33","modified_gmt":"2022-07-12T06:41:33","slug":"e-invoicing-will-soon-be-required-for-businesses-with-a-turnover-of-more-than-rs-5-crore","status":"publish","type":"post","link":"https:\/\/www.aakashinfo.com\/blog\/e-invoicing-will-soon-be-required-for-businesses-with-a-turnover-of-more-than-rs-5-crore\/","title":{"rendered":"E-invoicing will soon be required for businesses with a turnover of more than Rs.5-crore"},"content":{"rendered":"<h2>Businesses who do not use e-invoicing will be deemed invalid and ineligible for ITC.<\/h2>\n<p><a href=\"https:\/\/www.aakashinfo.com\/blog\/e-invoicing-will-soon-be-required-for-businesses-with-a-turnover-of-more-than-rs-5-crore\/gst-e-invoicing-will-soon-be-required-for-businesses-with-a-turnover-of-more-than-rs-5-crore-2\/\" rel=\"attachment wp-att-95\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-large wp-image-95\" src=\"https:\/\/www.aakashinfo.com\/blog\/wp-content\/uploads\/2022\/07\/GST-E-invoicing-will-soon-be-required-for-businesses-with-a-turnover-of-more-than-Rs.5-crore-1024x576.png\" alt=\"GST: E-invoicing will soon be required for businesses with a turnover of more than Rs.5-crore\" width=\"900\" height=\"506\" srcset=\"https:\/\/www.aakashinfo.com\/blog\/wp-content\/uploads\/2022\/07\/GST-E-invoicing-will-soon-be-required-for-businesses-with-a-turnover-of-more-than-Rs.5-crore-1024x576.png 1024w, https:\/\/www.aakashinfo.com\/blog\/wp-content\/uploads\/2022\/07\/GST-E-invoicing-will-soon-be-required-for-businesses-with-a-turnover-of-more-than-Rs.5-crore-300x169.png 300w, https:\/\/www.aakashinfo.com\/blog\/wp-content\/uploads\/2022\/07\/GST-E-invoicing-will-soon-be-required-for-businesses-with-a-turnover-of-more-than-Rs.5-crore-768x432.png 768w, https:\/\/www.aakashinfo.com\/blog\/wp-content\/uploads\/2022\/07\/GST-E-invoicing-will-soon-be-required-for-businesses-with-a-turnover-of-more-than-Rs.5-crore-1536x864.png 1536w, https:\/\/www.aakashinfo.com\/blog\/wp-content\/uploads\/2022\/07\/GST-E-invoicing-will-soon-be-required-for-businesses-with-a-turnover-of-more-than-Rs.5-crore-2048x1152.png 2048w\" sizes=\"auto, (max-width: 900px) 100vw, 900px\" \/><\/a><\/p>\n<p>Businesses having a yearly revenue of more than 10 crore rupees and a yearly revenue of more than 5 crore rupees will soon be obliged to send e-invoices. As of right now, companies with a yearly turnover of more than 20 crore rupees must use e-invoicing.<\/p>\n<p>According to the Central Board of Indirect Taxes chairman Vivek Johri, To further plug leaks, assure improved compliance, and inform policymaking, the GST e-invoicing will likely become mandatory for businesses with a turnover of above Rs 5 crore beginning January 1, 2023, down from the current threshold of Rs 20 crore.<\/p>\n<p>The tax authorities will also be able to better analyze trends in ITC utilization across sectors and weed out fraudulent ITC claims, which have become a major issue for the government. In the last one and a half years, fake ITC worth over Rs 50,000 crore has been discovered.<\/p>\n<p>Checkout Our <a href=\"https:\/\/www.aakashinfo.com\/accounting-software\">Plus Accounting software<\/a> Which comes integrated with tons of features including GST E-invoicing.<\/p>\n<p>Why to use Plus Accounting Software?<\/p>\n<ul>\n<li>Comes with built-in Multi Language<\/li>\n<li>Online Cloud reporting with real time sync<\/li>\n<li>Mobile Reporting app with real time cloud data sync (Available On both Android and IOS)<\/li>\n<li>Backup your data securely directly in your google drive<\/li>\n<li>Directly Share your Reports &amp; Voucher in PDF Or Excel via Whatsapp, Telegram, Email etc.<\/li>\n<\/ul>\n<div class=\"su-note\"  style=\"border-color:#e5e5e5;border-radius:10px;-moz-border-radius:10px;-webkit-border-radius:10px;\"><div class=\"su-note-inner su-u-clearfix su-u-trim\" style=\"background-color:#fff;border-color:#ffffff;color:#000000;border-radius:10px;-moz-border-radius:10px;-webkit-border-radius:10px;\">\n<p>Follow Us On :\u00a0 <a href=\"https:\/\/www.facebook.com\/AakashInfowayPvtLtd\" target=\"_blank\" rel=\"noopener noreferrer\">Facebook<\/a>, <a href=\"https:\/\/twitter.com\/AakashInfoway\" target=\"_blank\" rel=\"noopener noreferrer\">Twitter<\/a>, <a href=\"https:\/\/instagram.com\/aakashinfoway\" target=\"_blank\" rel=\"noopener noreferrer\">Instagram<\/a>,\u00a0<a href=\"https:\/\/www.linkedin.com\/company\/aakash-infoway\" target=\"_blank\" rel=\"noopener\">LinkedIn<\/a><\/p>\n<\/div><\/div>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Businesses who do not use e-invoicing will be deemed invalid and ineligible for ITC. Businesses having a yearly revenue of more than 10 crore rupees and a yearly revenue of. <a class=\"read-more-link\" href=\"https:\/\/www.aakashinfo.com\/blog\/e-invoicing-will-soon-be-required-for-businesses-with-a-turnover-of-more-than-rs-5-crore\/\">read more&#8230;<\/a><\/p>\n","protected":false},"author":2,"featured_media":95,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22,14],"tags":[5,13,23,24,6,20],"class_list":["post-94","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-e-invoice","category-gst-2","tag-accounting","tag-accounting-software","tag-e-invoice","tag-e-invoicing","tag-gst","tag-income-tax"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.10 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\r\n<title>E-invoicing will soon be required for businesses with a turnover of more than Rs.5-crore - Aakash Infoway Pvt. 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