The system could be restricted to large companies in the initial phase, said a government official privy to the deliberations on the matter.
A committee appointed by the GST Council has constituted a sub-group that will examine issues connected to e-invoicing, including optional treatment of sectors such as banking and telecom as also tentative timeline for execution.
This sub-group will examine and recommend the business process, policy, and legal aspects for generation of e-invoice. It will also consider matters such as format for invoice, modification or cancellation of invoice, turnover threshold for invoice generation from the portal, immediate steps for B2B supplies with a high threshold turnover and the format for exceptional circumstances.
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