The Central Board of Indirect Taxes and Customs ( CBIC ) has deferred the facility of Dynamic QR Code on B2C invoices to 1st December, 2020.
A certain class of registered persons (insurance company, banking company, financial institution, non-banking financial institution, GTA, passenger transportation service, etc.) to be exempted from issuing e-invoices or capturing dynamic QR code.
Where the aggregate turnover of a supplier in a financial year exceeds Rs 500 crore, he shall be required to have a QR code displayed on B2C invoices raised by him. Where the supplier makes a dynamic QR code available through a digital display, the cross-reference of the payment made through it should be made available.
Under the GST law, the e-invoicing scheme will be made compulsory from 1 October 2020 for those taxpayers having an aggregate turnover of more than Rs 500 crore in the previous financial year. Thus, all those taxpayers will be required to issues invoices under the e-invoicing system in respect of B2B tax invoices, credit notes, and debit notes. The e-invoicing system also requires invoices printed to have a space for QR codes.Subscribe Taxscan Premium to view the Judgment