Businesses with ₹20cr+ turnover have to mandatorily generate E-invoice

• On Saturday, the Central Board of Indirect Taxes and Customs said that the businesses having turnover over ₹20 crores would have to mandatorily generate electronic-invoice (E-invoice) for all their B2B (business-to-business) transactions from April 1.

• The board released a notification.

• From April 1 last year, companies with a turnover of more than ₹50 crore were generating B2B e-invoices.

• This is now being extended to companies with a turnover of over ₹20 crore.