e-Invoicingunder GST is currently the big thing every business is talking about.In this article, we have tried to pinpoint a specific error commonly faced by the businesses while generating their e-Invoices from the IRP portal.
Business to Consumer (B2C) supplies can also be reported by notified persons?
No. This will be brought under e-invoicing in the next phase.
As per Rule 48(4) of the CGST Rules, 2017, notified class of registered persons (as notified by issuing notifications from time to time) have to prepare invoice by uploading specified particulars of invoice in Form GST INV-01 on Invoice Registration Portal (IRP) and obtain an Invoice Reference Number (IRN).
Vide Notification No. 05/2021- Central Tax Dated 08.03.2021, the CBIC has reduced turnover eligibility for E-invoice from Rs. 100 Crore to Rs. 50 Crore. The new provisions will be in force from 1st April, 2021.
This list consists of the details of the businesses for which e-invoice generation is made mandatory. The list shows about 70,000+ businesses for which e-Invoicing is made mandatory.