Penalties and Consequences of Non-generation of e-Invoices
Failure to generate e-invoices may result in penalties, burdening the business’s cash flow. As per the recent update, taxpayers whose turnover exceeds Rs.5 crore must generate e-invoices. The Invoice Registration Portal (IRP) will generate an Invoice Reference Number (IRN) and Quick Response (QR) code along with a digitally signed e-invoice. In case of non-generation of … Read more