CBIC clarifies Reduction of e-invoice Generation Threshold: No Change Proposed
The Central Board of Indirect Taxes and Customs through its official twitter handle, issued a clarification, that no reduction of the e-invoice generation threshold, currently at Rs.5 Crores is in proposal before the Government. In the tweet, it was noted by the Board that some news reports have appeared in the media today suggesting that though has recommended reducing the threshold...
The Central Board of Indirect Taxes and Customs through its official twitter handle, issued a clarification, that no reduction of the e-invoice generation threshold, currently at Rs.5 Crores is in proposal before the Government.
In the tweet, it was noted by the Board that some news reports have appeared in the media today suggesting that though has recommended reducing the threshold for generation of e-invoice to Rs.5 cr with effect from 1.1.23, the Government is yet to issue notification in the matter, giving rise to uncertainties amongst the taxpayers.
It was clarified by the board that, presently, e-invoicing has been made mandatory for registered persons having aggregate turnover more than Rs. 10 crore in any preceding financial year from 2017-18 onwards, referring to Notification no. 17/2022-Central Tax dated 01.08.2022.
It was also clarified by the CBIC that no such proposal was put forward by the Goods and Services Tax (GST) Council so far.
Tweet: https://twitter.com/cbic_india/status/1607381704620269568?s=20&t=nra1vb3FIWm5VSJvGKUEug
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 1.1.23, the Govt. has yet to issue notification in the matter, giving rise to uncertainties amongst the taxpayers. 1/3
— CBIC (@cbic_india) December 26, 2022
Support our journalism by subscribing to Taxscan premium. Follow us on Telegram for quick updates.
