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May 30, 2024 · From 1st August 2023, the e-invoicing is mandatory for businesses with annual aggregate turnover of over Rs.5 crore in any previous financial year from 2017-18. Earlier, phase I applied to the e invoice turnover limit of more than Rs.500 crore from 1st October 2020.
Jul 27, 2023 · With the latest notification, there are new rules for E-invoicing applicability from August 2023. This article provides a comprehensive overview of the updated regulations, including the threshold limit, requirements, and exemptions.
Mar 22, 2024 · From 1st May 2023* onwards, taxpayers with Annual Aggregate Turnover (AATO) equal to or more than INR 100 crore must generate e-invoices for tax invoices and credit-debit notes within 7 days of invoice date, failing which such invoices and CDNs will be considered non-compliant.
Latest e-invoice schema is notified on 30th July 2020 vide Notification No. 60/2020 – Central Tax. The e-invoice schema contains both mandatory and optional fields. The mandatory fields are those that must be compulsorily there for an invoice to be valid under the e-invoice standard.
Jun 22, 2023 · E-invoice mandate has been extended to companies with a turnover exceeding Rs. 5 crores from August 1, 2023. E-invoicing under GST is crucial for organizations now more than ever and the consequences of non-compliance with e-invoicing could lead to heavy penalties.
Mar 22, 2021 · Additionally, e-invoicing doesn’t apply to any person having an aggregate turnover of less than INR 100 Crores (INR 50 Crores from 1 st April 2021) in a financial year. Further, e-invoicing doesn’t apply in B2C transactions (i.e. supply of goods or services or both to an unregistered person). Tags: CA Bimal Jain. Goods And Services Tax.
May 27, 2024 · The GST e-invoice requirement now applies to businesses with a turnover exceeding ₹5 crore in any financial year since 2017-18, starting from August 1, 2023.
Feb 14, 2024 · As per the e invoice notification 17/2022 dated 1st August 2022, the fifth phase applied to businesses with an e invoice turnover limit of more than Rs.10 crore up to Rs.20 crore from 1st October 2022.
Dec 9, 2022 · As per the GST notification 17/2022, from October 1, 2022 companies having AATO of Rs 10 Cr and above need to register their B2B invoices and other specific documents on IRP and get Invoice Registration Number in return.
Jan 28, 2024 · Turnover Threshold and applicability of E-invoice. The Central Board of Indirect Taxes (CBIC) announced Notification No. 10/2023–Central Tax dated May 10, 2023, to reduce the e-invoicing turnover limit to Rs.5.00 Crore, implemented w.e.f. August 1, 2023.
