Notification No. 10/2023. Reduced the e-invoice limit from Rs. 10 Crores to Rs. 5 Crores from 1st August 2023
For business-to-business (B2B) transactions, companies must currently create electronic invoices if their annual revenue exceeds Rs. 10 crore.
As of April 1, 2021, the e-invoicing barrier was decreased to Rs. 50 crore under the third phase. As of April 1, 2022, the fourth phase further reduced it to Rs. 20 crore. For firms having a turnover of more than Rs 10 crore, e-invoicing was introduced from October 1, 2022, as part of the fifth phase. Starting in August 2023, the threshold will be further lowered to Rs 5 crore.
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