GST facelift: Electronic invoicing, new returns to be introduced in 2020

Two things that will change the way transactions are reported under the  goods and services tax  (GST) system in 2020 are electronic invoicing and new returns. While both of these will be introduced mandatorily from April 1, e-invoicing would be implemented on a voluntary basis by those having an annual turnover of above Rs500 crore from January 1. Those with an annual turnover of over R…