E-invoicing was first started for business having a turnover of Rs. 500 crore and today it has been made mandatory for businesses having turnover upto 10 crore which was earlier kept at Rs. 20 crore.
According to notification no. 17/2022 Dt. 01.08.2022, CBIC has reduced the limit for compulsory generation of E-invoicing from Rs. 20 crore to 10 crore.
The change shall be applicable from 01.10.2022
Hence, from 01.10.2022 businesses having turnover above Rs. 10 crore need to generate E-invoice on the portal of GST.
The relevant extract of notification is as under:
“In exercise of the powers conferred by sub-rule (4) of rule 48 of the Central Goods and Services Tax Rules, 2017, the Government, on the recommendations of the Council, hereby makes the following further amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 13/2020 – Central Tax, dated the 21st March, 2020, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 196(E), dated 21st March, 2020, namely:-
In the said notification, in the first paragraph, with effect from the 1st day of October, 2022, for the words “twenty crore rupees”, the words “ten crore rupees” shall be substituted.”
To read notification 17/2022 Dt. 01.08.2022 CLICK ME.
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