30-Days Grace Period for GST e-Invoicing

GST e-Invoicing, The Central Board of Indirect Taxes and Customs (CBIC) has made the Goods and Services Tax (GST) e-Invoicing mandatory from 1st October 2020, if the turnover is more than 500 crores in any of the last three Financial Years. It is also applicable to Export Invoices.

Further, CBIC on 30th September 2020, has given one last chance to avoid penalty to the businesses that are not yet prepared for generating GST e-Invoices, If they obtain mandatory Invoice Reference Number (IRN) from the Invoice Reference portal (IRP) within 30days.

It was also clarified that no such relaxation would be available for the invoices issued from 1 November 2020.

Here is the official press release:

30-days grace period for GST e- invoicing

Knowledge Source:

GST Annual Return due date extended

Goods & Services Tax (GST) Returns

A comprehensive guide on GST Tax Rates in India

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