New e-invoicing rule to bring 180k more firms into GST compliance fold

Mandatory electronic invoicing of business-to-business (B2B) transactions for companies with annual turnover above  ₹20 crore will increase goods and services tax (GST) registrations by 75%, a government official said.  The new system, which takes effect on 1 April, will add 180,000 GST identification numbers (GSTINs), up from the existing 240,000, to around 420,000, the offici…