The design architecture for implementing B2C GST e-invoicing for retailers is nearly complete and currently undergoing review by industry experts, according to GST Network CEO Manish Kumar Sinha.
E-invoicing has already been introduced in the B2B sector, and earlier this month, the GST Council decided to extend it to the B2C sector on a pilot basis.
Read More: GST Council Approves Pilot Rollout for B2C e-Invoicing to Enhance Retail Efficiency
Sinha, speaking at an Assocham event, mentioned that the GST department is in talks with the industry regarding the issuance of electronic invoices for every B2C transaction. “Initially, we will launch a pilot project. The design architecture is mostly finalised, and we are getting it vetted by top industry experts. Following this, we will release guidelines on how to proceed,” Sinha stated.
The threshold for businesses required to implement e-invoicing is still being determined. “We need to allow time for the industry, particularly small, local businesses. Our main focus is on ensuring the technology works seamlessly. Larger organised retailers and e-commerce platforms already have strong IT systems, so we hope to encourage them to start adopting e-invoicing,” Sinha added.
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Under the Goods and Services Tax ( GST ) law, e-invoicing for B2B transactions became mandatory for companies with turnovers exceeding ₹500 crore from October 1, 2020. This requirement was later expanded to include businesses with turnover above ₹5 crore.
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