Lower threshold for e-invoices will address GST ITC issues

Gradual reduction in the annual turnover threshold for mandatory e-invoicing for business-to-business supplies may help large firms fully claim their input tax credit ( ITC ), which often gets stuck due to delay or failure in filing goods and service tax (GST) returns by MSMEs. It will also prod MSMEs to be tech savvy, which may help them retain or get orders from larger corporates, say officials.…