GST Council may fix Rs 50 cr turnover threshold for e-invoice under GST
10/06/2019 12:59

FinMin is planning to propose Rs 50 crore as the turnover threshold for entities to generate e-invoice on a centralized government portal for business-to-business (B2B) sales as it looks to curb GST evasion.ÿ

GST Council scheduled to meet on June 20, 2019, will take a final decision on the turnover threshold for issuance of e-invoice for B2B sales after consultation with states.

As per the return filing analysis, as many as 68,041 businesses have reported a turnover of over Rs 50 crore and accounted for 66.6 per cent of total GST paid in 2017-18.ÿ

The analysis further showed thatÿwhile these businesses account for just 1.02 per cent of GST payers, they make up almost 30 per cent of the B2B invoices generated in the system.ÿ

As per the media report, the ministry is planning to roll out the e-invoice system by September.