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The government is going to increase number of e-invoices portals from one to six. Taxpayers to have multiple choices. Four private companies are also in the race.

With such a big infrastructure, it seems government is preparing to bring all entities within the e-invoice ambit.

The single e-invoice portal so far has been run by state-owned NIC, which now wants to set up one more portal.

In addition, the GSTN has empaneled four more companies for setting up Invoice Registration Portals (IRPs) — Cygnet InfoPath, IRIS Business Services, Defmacro Software (Cleartax), and EY LLP. The GST Council will be informed of the development in the meeting next week. The proposed second NIC portal will be taken up for approval by the Council in the meeting.

The government aims to strengthen the IT infrastructure to ensure uninterrupted invoice registration services to businesses. Taxpayers will have the option to choose between IRPs. The government wants to ensure that the load could be balanced between the six portals in case of any glitches or challenges leading to long queues.

While the private e-invoice portals will have to mandatorily provide free e-invoice registration service to businesses, they may be allowed to provide additional services to clients for a charge.

While e-invoicing is so far limited to entities with a turnover of Rs.20 crore and above for B2B transactions, the government plans to extend it to all entities and also for B2C transactions going forward.

 

The portals are the latest step in a move to expand the scope of e-invoicing — beginning with making it mandatory for companies with a revenue of R.......
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Author:

TaxReply


Jun 24, 2022

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