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GSTN launches four new e-Invoice Portals. Taxpayers to have multiple choices.

With such a big infrastructure, it seems government is all set to further reduce e-invoice limit from 01st April 2023.

The e-invoice portal so far has been run by state-owned NIC. In addition, GSTN has empaneled few more companies for setting up Invoice Registration Portals (IRPs) such as - Cygnet InfoPath, IRIS Business Services, Cleartax.

The government aims to strengthen the IT infrastructure to ensure uninterrupted invoice registration services to businesses. Taxpayers will have the option to choose between IRPs. The government wants to ensure that the load could be balanced between the multiple portals in case of any glitches or challenges leading to long queues.

While the private e-invoice portals will have to mandatorily provide free e-invoice registration service to businesses, they may be allowed to provide additional services to clients for a charge.

While e-invoicing is so far limited to entities with a turnover of Rs.10 crore and above for B2B transactions, the government plans to extend it to all entities and also for B2C transactions going forward.

Setting up additional IRPs would help the government manage the data traffic, particularly as the ambit of e-invoicing increases. “While in the medium run, this mechanism will replace the existing e-way bill system, eventually the government is hoping to dispense with the present system of filing GST returns for micro, small and medium enterprises (MSMEs)."