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Rs.5 crore
- 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.
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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 · Learn about the latest rules for e-invoicing applicability from August 2023, based on the aggregate turnover of registered persons. Find out which documents, supplies, and sectors are covered or exempted from e-invoicing requirements.
- What is e-Invoicing under GST? ‘e-Invoicing’ or ‘electronic invoicing’ is a system in which B2B invoices are authenticated electronically by GSTN for further use on the common GST portal.
- To whom is e-Invoicing applicable? e-Invoicing has been made applicable from 1st October 2020 to all businesses whose aggregate turnover has exceeded Rs.500 crore limit in any of the preceding financial years from 2017-18 to 2019-20.
- What is the current system in place for issuing invoices? Currently, businesses generate invoices through various softwares, and the details of these invoices are manually uploaded in the GSTR-1 return.
- How will Electronic invoicing benefit businesses? Businesses will have the following benefits by using e-invoice initiated by GSTN: E-invoice resolves and plugs a major gap in data reconciliation under GST to reduce mismatch errors.
Jun 22, 2023 · Learn about the latest e-invoice mandate for companies with turnover exceeding Rs. 5 crores from August 1, 2023. Find out the covered transactions, exemptions, documents, and how to generate e-invoices with IRIS IRP.
Dec 9, 2022 · The government has further reduced the e-invoicing turnover limit covering companies with Annual Aggregate Turnover of Rs. 10 Cr. and above. 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 ...
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.
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.
