Implementation of E-invoicing might defer for few months
There is an possibility that government might defer the implementation of e-invoicing under goods and services tax (GST) by almost 3 months i.e. to 1st July 2020. The reason for this is ,as we know,trials to upload e-invoices on the GST Network (GSTN) has been introduced in January 2020 and have seen very cold response. Hardly, 1% of registered businesses under the GST regime used it.
The authorities are saying as only a few companies have uploaded e-invoices , they will not know the shortcomings of the system. Because of this ,when it becomes mandatory from 1st April 2020, if people find any issues then they will start saying that the government’s systems are not working.
This deferment might be helpful for the industry, since various companies use different software to issue and upload invoices, which have to then be reconciled with the government’s system. For the government, an additional 3 months can help to create capacities for the mass digitisation exercise. The schema for this e-invoice is not yet final and the new returns are also being simultaneously introduced which makes the trade anxious about the impact on their business .