Home Business GST e-invoice count climbs to 6.03 crore in December

GST e-invoice count climbs to 6.03 crore in December

System had begun with 4.95 cr. in Oct.

As many as 6.03 crore GST e-invoices have been generated in December, increased than the 5.89 crore seen in November, in accordance to an official launch.

The authorities had made it obligatory for companies with turnover of greater than ₹500 crore to generate digital bill or e-invoice for B2B transactions, from October 1, 2020.

In an announcement, the IT Ministry on Saturday mentioned the GST e-invoice system, “the game changer in the GST system”, had accomplished three months and had facilitated the graceful transition of taxpayers to the brand new platform. It has enabled greater than 37,000 taxpayers to generate greater than 16.8 crore bill reference numbers over the last three months from the NIC-developed e-invoice system.

“Starting with 495 lakh, during October 2020, generation of e-invoice has [risen] to 589 lakh in November 2020 and 603 lakh in December 2020,” it mentioned.

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