
GST e-invoicing welcome step for midsize firms but might be a challenge for micro, small units: FISME
Mandating businesses with over Rs 50 crore turnover (midsize firms) to generate e-invoices is a welcome move but it might be a problem for micro, and small businesses who don’t invest much in technology and lack digital literacy, according to Animesh Saxena, President, Federation of Indian Micro and Small & Medium Enterprises (FISME). E-invoicing was earlier made mandatory under Goods and Services Tax (GST) law for business-to-business (B2B) transactions by businesses with a turnover of more than Rs 500 crore…