India relaxes e-invoice deadline for COVID-19

India is to provide a soft-landing period for smaller businesses on the 1 October 2020 rollout of electronic invoices.

Businesses with an annual turnover below INR 5billion will not be subject to fines if they fail to comply with the new e-invoice clearing regime according to the Central Board of Indirect Taxes and Customs. This means affected businesses will not have to report and clear their sales invoices with a valid number until 1 November 2020.