The Government has issued relevant notifications for the introduction of e-invoicing, which makes e-invoicing mandatory from April 1st, 2020 in respect of B2B transactions for any assessee whose turnover exceeds INR 100 crore and for B2C transactions for any assessee whose turnover exceeds INR 500 crore. This has a far-reaching impact for all businesses in excess of the turnover of INR 100 crore, irrespective of the sector in which the business operates.
This session comprised of KPMG senior indirect tax specialists who shared their insights on the implications of e-invoicing requirements and what U.S. businesses need to do to comply with these requirements followed by a live demo of how IRN/QR code shall be generated. AMCHAM partnered with KPMG to organize a session for member companies at the KPMG office on February 26th in Bengaluru. The session was attended by companies like MOOG, Accenture, Swagelok, Grant Thornton, GE and others.
By joining AMCHAM India, you become part of an active and dynamic Apex Chamber of U.S. Industry in India with a membership base of more than 400 American companies in India. AMCHAM is an important voice for policy advocacy, a critical source for business intelligence, a vibrant platform for networking and expanding your business.