e-invoice is being implemented in India very aggressively compared to other nations across the globe. Within a span of 6 months, we could see the changes in the threshold and also the number of e-invoices issued. It all started from 1st Oct 2020 for taxpayers having turnover above Rs 500 Crores. The same has been decreased to Rs 100 Crores from 1st Jan 2021 and now it is further reduced to Rs 50 Crores from 1st April 2021.
The number of e-invoices issued has already crossed 25 crores on 3rd Feb 2021 and the count is increasing.
As per Notification no 5-Central dated 8th March 2021, e-invoice is applicable for taxpayers having turnover above Rs 50 crores. This is good news compared to the initial talks of Rs 5 crores from 1st April 2021.