![GST](https://img.etimg.com/thumb/msid-79979470,width-650,height-488,imgsize-58946,resizemode-75/gst.jpg)
Kolkata: The government's move to gradually bring small business under the Goods and Services Tax net is a boon for service providers, GST Dost has said.
The tax advisory startup estimates the total value of GST and related services at more than Rs 12,000 crore.
GST e-invoicing is currently mandated for businesses with an annual turnover over Rs 500 crore.
The government has notified the mandatory requirement of e-invoicing for B2B transactions for businesses with a turnover of over Rs 100 crore with effect from 1 January 2021.
![](https://img.etimg.com/photo/88591548.cms)
For the government it will lead to reduction in fraud cases in tax evasion, Dhanania said. "With government expanding the GST ambit to small businesses, we are aiming at a multifold rise in our revenue over the next 2-3 years."
The tax advisory startup estimates the total value of GST and related services at more than Rs 12,000 crore.
"The introduction of e-invoicing for companies of Rs 100 crore and above will open new business opportunity for us. There are approximately 13,500 businesses in India with a turnover of more than Rs 100 crore," Vikas Dhanania, president of GST Dost, told the Press Trust of India.
GST e-invoicing is currently mandated for businesses with an annual turnover over Rs 500 crore.
The government has notified the mandatory requirement of e-invoicing for B2B transactions for businesses with a turnover of over Rs 100 crore with effect from 1 January 2021.