E-invoicing mandatory for taxpayer’s having turnover above 100 Crore from January 2021

CBIC has made E-invoicing mandatory from 1^st January 2021 for taxpayer’s having aggregate turnover above Rs 100 crore. Earlier, limit for E-Invoicing was Rs 500 Crore.

On 10^th November, 2020 Central Board of Indirect taxes and Customs (CBIC) has issued a notification, which made E-invoicing mandatory from 1^st January, 2021 for every taxpayer having aggregate turnover above Rs 100 Crore in any of the financial year starting from 2017-2018. However, Special Economic Zone (SEZ) is kept exempted.

The taxpayer’s are required to issue E-invoices for all the Business to Business supplies, in the manner prescribed under rule 48 (5) of the CGST Rules 2017.

Earlier, limit for E-invoicing was Rs 500 crore.

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30-Days Grace Period for GST e-Invoicing