E-invoicing is a very important point of discussion amongst business people. Any organization having a turnover of above INR 50 crores is mandated to commit to the process of generating an e-invoice. This step has been welcomed by everyone, but there are issues still to be addressed.
For small and medium enterprises, it may not be that convenient. These firms do not invest much in technology and hence may lack some digital literacy. E-invoicing has been made compulsory for organizations having a turnover of above 50 crores INR. Now as per the revised definition from MSME, enterprises ranging from 51 crores to 250 crores are referred to as medium units.
How is e-invoicing affecting enterprises?
Certain impacts are seen as a result of e-invoicing mandating.
IT infrastructure availability
Approach to the taxpayers
In a nutshell, we can say that e-invoicing is burdensome to them when there are loads of invoices to be uploaded at the IRP. This can be time-consuming and can hamper the exact data requirements.
Sometimes, it may take time to understand the working through this portal that makes the taxpayers even more resistant to this scheme.
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