“Starting March 1, 2024, there’s a new rule for bigger businesses in India. If your business makes more than Rs 5 crore in a year, there’s a change in how you do things. Now, when you send goods from one place to another, you have to include e-invoice details in what’s called an e-way bill. This e-way bill is like a pass for your goods.
Why this Change?
Earlier, some businesses were making these e-way bills without including details from their e-invoices. It caused confusion because the information didn’t match up. So, the government’s tech department, the National Informatics Centre (NIC), decided to make it a must to link e-invoices with e-way bills. This way, things are more organized and accurate.
What’s the Impact?
Starting March 1, 2024, if you’re a big business, you can’t create an e-way bill without adding e-invoice details for certain types of transactions, like when you sell things to other businesses (B2B) or export goods. This change is meant to make sure that the details in your invoices match the details in your e-way bills, making everything clearer and more reliable.
Does it Affect Everyone?
No, if you sell directly to regular people (B2C transactions), this rule doesn’t apply to you. You can still make e-way bills like before, without adding e-invoice details.
To sum it up, this new rule is like a step forward for businesses in India. Connecting e-invoices with e-way bills helps make things smoother, especially for bigger businesses, and it’s good for the whole economy.”
