GST E-Invoice: CBIC enables Registration and Login for Taxpayers with Turnover Rs. 20cr

GST E-Invoice - CBIC - Registration and Login - Taxpayers - Taxscan

The Central Board of Indirect Taxes and Customs ( CBIC ) has enabled the facility to Registration and Login for Taxpayers with Turnover Rs. 20to 50 crores.The CBIC had notified the reduction in the Applicability of GST E-invoicing threshold from Rs.50 Crores to Rs.20 Crores with effect from April 1, 2022.

‘E-invoicing’ facilitates the exchange of the invoice document (structured invoice data) between a supplier and a buyer in an integrated electronic format by way of standard e-invoice schema (INV-01) through looping the government authorities i.e. invoicing portal to keep a check on suspicious taxpayers.

The CBIC notified registered person, other than a Special Economic Zone unit and those referred to in sub-rules (2), (3), (4), and (4A) of rule 54 of the GST rules, whose aggregate turnover in any preceding financial year from 2017-18 onwards exceeds Five hundred crore rupees, as a class of registered person who shall prepare the invoice and other prescribed documents, in terms of sub-rule (4) of rule 48 of the said rules in respect of the supply of goods or services or both to a registered person or for exports. Later on, the applicability of the E-invoicing threshold was Rs.500 crores till December 31, 2020, thereafter 100 crores and then reduced to Rs.50 Crores now it is again capped to Rs 20 crores.

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