Attention Taxpayers with AATO in excess of Rs 20 Crore are also required to generate e-invoice for their outward supplies

Attention: Taxpayers with AATO in excess of Rs 20 Crore are also required to generate e-invoice for their outward supplies w.e.f. 1st April, 2022. Read more

The e-invoicing system now applies to more businesses via the CBIC’s CGST notification 01/2022 dated 24th February 2022. Indian businesses with an annual aggregate turnover of more than Rs.20 crore up to Rs.50 crore, as calculated in any preceding financial year from 2017-18 up to 2021-22, must begin generating e-invoices from 1st April 2022. 

The article deep-dives into the details of the notification, preparedness, options, challenges and tested solutions such as Clear e-Invoicing to aid such businesses.

More than 3,000 large enterprises trust e-invoice for their unified e-invoicing, e-way bill and Business-to-Consumer (B2C) QR code compliance.

notifications for the e-invoicing implementation to date-


Notification

Guideline

Notification 13/2020 on 21st Mar 2020
e-Invoicing applied to businesses with turnover higher than Rs.100 crore in a year from 1st October 2020.

Notification 60/2020 on 30th Jul 2020
A revised e-invoice format was issued with 20 new fields and 13 fields removed.

Notification 61/2020 on 30th Jul 2020
The turnover limit was raised from Rs.100 crore to Rs.500 crore to limit its applicability.

Notification 70/2020 on 30th Sep 2020
Original notification 13/2020 is amended to change the turnover computation from the current FY to the turnover of any preceding FY from 2017-2018.

Notification 88/2020 on 10th Nov 2020
Revision in the original notification 13/2020 to reinstate the turnover limit to Rs.100 crore from Rs.500 crore.

Notification 05/2021 on 08th Mar 2021
Change in original notification 13/2020 to reduce the turnover limit to Rs.50 crore from Rs.100 crore to extend the applicability to more taxpayers.

Notification 23/2021 on 1st June 2021
Extension of exemption to government departments and local authorities.

Notification 01/2022 on 24th February 2022
Change in original notification 13/2020 to further reduce the turnover limit to Rs.20 crore from Rs.50 crore to extend the applicability to more taxpayers.

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