The rise in Goods and Services Tax (GST) collections in October has been on account of economic activity and not due to notices being issued by tax authorities, Central Board of Indirect Taxes and Customs (CBIC) Sanjay Kumar Agarwal said Wednesday. On the issue of e-invoices, Agarwal said the department would continue to nudge businesses to issue e-invoices for B2B transactions and will soon send advisories to non-compliant businesses. “From August 1, businesses with turnover of over Rs 5 crore are required to issue e-invoices. We will be sending advisory to such taxpayers to issue e-invoices. We do not want to adopt an approach which is intimidating, so we want to initially adopt a soft approach and nudge them to issue e-invoices,” Agarwal said.

Source: Indian Express November 10, 2023 12:01 UTC