Top companies registered under the Goods and Services Tax ( GST ) may have to rely on a common goods and services tax portal to issue invoices to their customer as part of Government’s initiatives to curb tax evasion.
AS per the Govt Officials “The government is looking to introduce an electronic invoice mechanism under GST, but could restrict it to large companies in the initial phase.”
This will automatically register every transaction on the GST network. “It is being examined … We are looking at if bigger companies could be brought in to begin with,” /said the official.
E-invoicing will allow the government to capture transactions on a real-time basis. For companies, it will make compliance, as well as getting their tax credits, easier.