GST e-invoicing to help MSMEs avail faster bank loans, says government official

The soon-to-be introduced e-invoicing system from January 2020, is expected to help the micro, small, and medium enterprises (MSMEs) by opening the facility of instant bank loans for the sector. "With the new system of e-invoicing, banks may not require a plethora of physical documents and their validation processes rather they can do MSMEs ratings for the loan on the basis of their e-invoicing,"…