The Central Board of Indirect Taxes and Customs on Monday said there is no proposal at present to reduce the threshold limit to Rs 5 crore for e-invoicing under the Goods and Services Tax regime from January 1, 2023.

“There is no proposal before the government, at present, to reduce this threshold limit to Rs 5 crore with effect from 01.01.2023, as no such recommendation has been made by GST Council as yet,” it said in a tweet. It is clarified that presently, e-invoicing has been made mandatory for registered persons having aggregate turnover more than Rs 10 crore in any preceding financial year from 2017-18 onwards, CBIC further said.The GST Council in its 35^th meeting in June 2019 had decided to introduce the e-invoicing or electronic invoicing system in a phase-wise manner for business-to-business transactions.

E-invoicing was made mandatory for businesses with a threshold of Rs 500 crore from October 1, 2020. The threshold ahs gradually been lowered to bring more businesses under the system.