Good news for businessmen, GST Council will approve the 6th e-invoice generation portal

The portal will expand the scope of e-invoicing.

The single e-invoice portal, so far run by the state-owned National Informatics Center (NIC), is now looking to set up another portal.

There is good news for businessmen. government e-invoice ,e-invoice) Increasing the number of portals to register from just one to six. Goods and Services Tax next week (GSTIt can be approved in the next meeting of the Council. This decision has been taken to prevent leakage in indirect tax collection. The portal is the latest step in expanding the scope of e-invoicing. Let us inform that in 2020, e-invoicing was made mandatory for companies with revenue of Rs 500 crore. With effect from April 1, 2022, electronic invoicing has become mandatory for businesses with a turnover of more than Rs 20 crore.

Last year’s official data showed that only half of the eligible GST Identification Numbers (GSTINs) were generating these invoices. The single e-invoice portal so far run by the state-owned National Informatics Center (NIC) is now looking to set up another portal.

In addition, GSTN has enlisted four more companies Cygnet InfoPath, IRIS Business Services, Defmacro Software (Cleartax) and EY LLP to set up Invoice Registration Portals (IRPs).

This information will be given to the GST Council in the meeting to be held next week. The second NIC portal proposed in the meeting will be taken up for approval by the Council.

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