Over the past six months, we witnessed the gradual implementation of various e-invoicing provisions based on the turnover of the taxpayers. Various notifications have been issued, prescribing the taxpayers, to comply with e-invoicing requirements. Such taxpayers have been generating IRNs and QR codes from the IRP and issuing tax invoices to the recipients in respect of their outward supplies.

The concept of e-invoicing at this scale is new in the Indian indirect tax environment and its impact on regular commercial practices has just started to emerge. Certain aspects could have a substantial indirect impact which would become more visible only in the days to come.