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CBIC has clarified via twitter as – Some news reports have appeared in media today suggesting that though GST Council has recommended reducing threshold for generation of e-invoice to Rs.5 cr wef 01.01.2023, the Govt. is yet to issue notification…
IRP has released Updated Frequently Asked Questions (“FAQs”) related to e-Invoicing. 1. Whether e-Invoice is required for Export of Services?Ans. Yes, if you are eligible for e-Invoicing, all the invoices of B2B and Exports need to be registered. 2. Is…
Businesses with annual turnover of over Rs.5 crore will have to move to e-invoicing under goods and services tax (GST) from January 1. The GST Network has asked its technology providers to make the portal ready to handle the increased…
The Single sign-on (“SSO”) functionality has been enabled for e-Invoice and e-Waybill. The SSO is a facility by which the user can log in to the e-Way bill system using his/her credentials and click on the e-Invoice link to access…
Businesses having aggregate annual turnover of Rs 10 crore and more will have to compulsorily generate e-invoices for business-to-business (B2B) transactions from October 1 onwards, according to the Finance Ministry. As of now, businesses with turnover of Rs 20 crore…
The GST Council, in its 37th meeting held on 20.09.2019, has recommended introduction of electronic invoice (‘e-invoice’) in GST in a phased manner. E-invoicing was initially made applicable w.e.f 01.10.2020 for the registered person having aggregate turnover of Rs. 500…
CBIC issued Notification No. 17/2022–Central Tax dated August 01, 2022 to amend Notification No. 13/2020 – Central Tax, dated March 21, 2020 to decrease the e-Invoicing aggregate turnover limit from 20 crore to 10 crore w.e.f. October 01, 2022. Source:…
The state government has formed an audit section to reshuffle GST department and thereby prevent tax evasion. The Cabinet meeting has approved the reorganization of the Taxpayer Service section, Audit section and Intelligence and Enforcement section of the GST department.…
As per the new update issued by GST, e-Invoice system says the taxpayers with turnover above Rs. 5 crore are enabled for testing on the Sandbox system. Source: GST Portal
As per the new update issued by GST, e-Invoice system says the taxpayers with turnover between Rs. 10 crore and Rs. 20 crore are enabled for testing on the Sandbox system. The following validations are implemented: Reverse charge is not…