Bizmen flag issues with new e-invoicing limit

Ludhiana: With the central government’s rule to make e-invoicing mandatory for businesses with a turnover of more than Rs 5 crore coming into effect on August 1, traders approached the National Traders Welfare Board members to take up the issue with the Centre and push for deferment of the new limit for at least a year.
The businessmen rued that those coming under purview of the new e-invoicing limit have limited resources to comply with the “complicated and expensive” system.
Ludhiana MSME Association president Harish Kairpal said, “At present, e-invoicing is mandatory for businesses having a turnover of Rs 10 crore or more, but from August 1, those with turnover of below this benchmark and upto Rs 5 crore will also have to adopt this system. Even after knowing that thousands of small traders, exporters and manufacturers with this turnover have very limited means to comply with the system, the central government is adamant on imposing this on us.”
Kairpal said the entire MSME industry is against the imposition of this system. His association has urged the National Traders Welfare Board members to stress upon the central government to either withdraw this order or defer it for at least one year, he added.
Executive member of Ludhiana Business Forum Sukhwinder Singh said, “The small industry might not be able to afford buying a computer, getting internet connection and hiring a professional to generate e-invoices. Therefore, they should be exempted.”
National Traders Welfare Board member Sunil Mehra said, “I have received representation from various business associations against the change in e-invoicing limit. This issue is already on the top of my agenda to be discussed in the next meeting of joint secretaries of different central government ministries and departments.” tnn