The government has decided to reduce the e-invoice limit from Rs. 10 Crores to Rs. 5 Crores from 1st August 2023. This means that any taxpayer who has an aggregate turnover exceeding Rs. 5 Crores in any financial year from 2017-18 to 2022-23 will be required to generate e-invoices from 1st August 2023 onwards. In simpler terms, businesses with turnover above Rs. 5 Crores will be required to generate electronic invoices for their transactions.