Question

Businesses with a turnover of _____ and above are obligated to generate e-invoicing for business-to-business (B2B) transactions with effect from August 1 which  presently is compulsory for companies with a turnover of Rs 10 crore or above.

A Rs.4 crore Correct Answer Incorrect Answer
B Rs.5 crore Correct Answer Incorrect Answer
C Rs.7 crore Correct Answer Incorrect Answer
D Rs.9 crore Correct Answer Incorrect Answer

Solution

Businesses with a turnover of Rs 5 crore and above are obligated to generate e-invoicing for business-to-business (B2B) transactions with effect from August 1. Presently, e-invoice is compulsory for companies with a turnover of Rs 10 crore or above.  The move is aimed at digitising higher volumes of transactions, greater transparency in sales reporting, minimising errors and mismatches, automating data entry work, and improving compliance.

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