Notification 87/2020:
CBIC extends the time limit for furnishing the declaration in FORM GST ITC-04, in respect of goods dispatched to a job worker or received from a job worker, during the period from July, 2020 to September, 2020 till the 30th day of November, 2020.
2. This notification shall be deemed to have come into force with effect from the 25th day of October, 2020.
Notification 88/2020:
From 01.01.2021 this notification amends and reduce the turnover limit for issuing E-invoice from Rs. 500 crore to Rs. 100 crore.
Thus, now businesses with turnover of Rs. 100 crore will also have to generate e-invoice and the limit was also originally set to Rs. 100 crore but later due to pandemic and other reasons increased to Rs. 500 crore.
If you need any assistance to issue and integrate E-invoicing system in your accounting software you can read our article where we provide you with a solution.
CLICK HERE to read the E-invoicing solution.
To download full notification CLICK HERE.
