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News GST

  • Jun 10, 2019
  • GST Council to meet on 20 June, may fix Rs50 cr turnover threshold for e-invoice

    The finance ministry is likely to propose ?50 crore as the turnover threshold for entities to generate e-invoice on a centralised government portal for business-to-business (B2B) sales as it looks to curb GST evasion, an official said. The GST Council, which will meet on 20 June, will take a final decision on the turnover threshold for issuance of e-invoice for B2B sales after consultation with states. Analysis of return filing shows that as many as 68,041 businesses have reported a turnover of over ?50 crore and accounted for 66.6% of total GST paid in 2017-18.