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INDIA: E-way bill slowly absorbed by e-invoicing

Oct 29, 2020 | VAT Updates

VAT Updates Asian

Currently the e-invoice system in India is mandatory from October the 1st regarding turnovers of more than 500 Rs. At this time users of the e-way bill can also login to e-invoice and e-way bills will be populated automatically from the data inserted in the e-invoice system. The thought behind this process is to make compliance easier for taxpayers, reduce tax evasion and automate the process.

Finance secretary Ajay mentioned that E-invoicing will soon replace the e-way bill system. E-invoicing is to be made available to all taxpayers for B2B transactions from April 1st 2021.

So India is continuously improving and integrating their online systems so that the transition to E-invoicing will eventually take place as smoothly as possible. In the future all taxpayers will be moved to the e-invoicing platform but there is no set date for this transition.

 

 

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