The Central Board of Indirect Taxes and Customs (CBIC) notified the Goods and Service Tax(GST) E-invoicing is applicable if the turnover is more than 500 crores in any of the last three Financial Years.
The CBIC also clarified that, E-Invoicing is also applicable for Export Invoices.
The Board amended the notification No. 13/2020 Central Tax, dated the 21st March, 2020, which seeks to exempt certain classes of registered persons from issuing e-invoices and the date for implementation of e-invoicing extended to October 1, 2020.
The notification No. 13/2020 Central Tax, dated the 21st March, 2020 notified that the registered person, other than those referred to in sub-rules (2), (3), (4) and (4A) of rule 54 of the CGST rules, whose aggregate turnover in a financial year exceeds one hundred crore rupees, as a class of registered person who shall prepare an invoice and other prescribed documents, in terms of sub-rule (4) of rule 48 of the rules in respect of supply of goods or services or both to a registered person.
In the notification, in the first paragraph for the words “a financial year”, the words and figures “any preceding financial year from 2017-18 onwards” shall be substituted.
In the notification, after the words “goods or services or both to a registered person”, the words “or for exports” shall be inserted.
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