E-invoicing limit to be reduced to 5 crore


E-invoicing limit to be reduced to 5 crore from 01-Aug-2023.


The taxpayers who had the turnover of Rs. 5 cores or more in any financial year FY: 2017-18 to FY: 2022-23 would be subject to this requirement.


E-invoicing is a system of electronically capturing and validating the invoice details between the seller and the buyer. It aims to improve the efficiency and transparency of the tax administration and reduce errors and fraud.


-> The taxpayers who are required to generate e-invoices will have to register their invoice details on the Invoice Registration Portal (#IRP) and obtain an Invoice Reference Number () and a QR code for each invoice. The IRN and QR code will serve as a unique identifier for the invoice and will help in verifying its authenticity.


-> The e-invoicing system will also facilitate the auto-population of the invoice details in the GST returns and the e-way bills, thereby reducing the compliance burden and the chances of mismatch or duplication.


-> 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. This deadline has been extended for 3 months recently.

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