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E-INVOICING SIGNALS A PARADIGM SHIFT IN TAX ADMINISTRATION.

Updated on:28th Oct, 2020
 E-invoicing will transmit all the details of a transaction and parties involved, including addresses, to a designated portal to generate a reference number and QR code.  Real-time reporting of transactions will make fraudulent adjustments in invoices harder. The immediate backlash from businesses following the rollout of the goods and services tax (GST) in 2017 had forced the government to go slow on implementing the monitoring mechanism to ensure compliance. In the past few months, however, efforts are being made to plug the loopholes in the indirect tax system through a series of small steps to enhance the tax authority’s enforcement capabilities.
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