Taxation

GST E-Invoices Spell End To Sales Under-Reporting

The practice among small businesses of issuing ‘Kacha bills’ or informal sales invoices to under-report turnover is likely to become a thing of the past, with the government quietly extending the scope of e-invoicing to ever more businesses. The move shows that the government’s idea of formalizing the economy through GST, which initially faced a backlash from traders and small firms, is now reaching its final stage.

Source- Live Mint

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