India’s B2B E-Invoicing Update

January 17, 20240

Type: Legislation

As of March 1, 2024, e-invoice details are mandatory for B2B and export transactions with goods movements in India, aligning reporting standards to combat Goods & Services Tax fraud. The National Informatics Centre, managing the e-way portal, spearheads this initiative. 

Since October 2020, India has enforced mandatory e-invoicing with live governmental reporting, gradually reducing the reporting threshold to ₹5 annually since August 1, 2023. 

E-way bills for goods movement now require critical details, and GST registered businesses transporting goods over Rs. 50,000 must generate an e-way bill through the government’s portal. 

Notably, B2C-related goods movements are exempt from the e-invoice details requirement on the e-way bill. 

In December 2023, the Central Board of Indirect Taxes & Customs announced the extension of the existing B2B e-invoicing system to include B2C transactions by 2026 or 2027. Businesses with an annual turnover of ₹5 have been obligated to adopt the centralized e-invoicing regime since August 1, 2023. 

 

Effective date: March 1, 2024 

 

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