India delays live e-invoice reporting till Jan 2020
- Jun 28, 2019 | Richard Asquith
The Indian GST Council, which oversees the operation of the Goods and Services Tax regime, has announced that it will delay the implementation of live e-invoice reporting until January 2020. The plan had been for a September launch.
The new real-time electronic invoicing system will initially be introduced for B2B transactions only. Initially, it will be voluntary, with incentives to adopt the new digital reporting system, including elimination of the obligation to issue E-Way Bills where the transaction includes a cross intra-state movement of goods. GST returns will also be pre-completed by the tax authorities based on submitted e-invoice. There will also be a threshold of Rs 500m.
It is likely that a Hungary or South Korea post-invoice issuance system will be adopted.
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