GSTN issues Advisory on Time Limit for Reporting GST Invoices on IRP Portal
The Goods and Services Tax Network has issued an advisory on the time limit for reporting the Goods and Services Tax invoices on the IRP Portal. The advisory said that it has been decided by the Government to impose a time limit on reporting old invoices on the e-invoice IRP portals for taxpayers with Annual Aggregate Turn Over (AATO) greater than or equal to INR 100 crores. To...
The Goods and Services Tax Network has issued an advisory on the time limit for reporting the Goods and Services Tax invoices on the IRP Portal.
The advisory said that it has been decided by the Government to impose a time limit on reporting old invoices on the e-invoice IRP portals for taxpayers with Annual Aggregate Turn Over (AATO) greater than or equal to INR 100 crores.
To ensure timely compliance, taxpayers in this category will not be allowed to report invoices older than 7 days on the date of reporting.
Please note that this restriction will only apply to the document type invoice, and there will be no time restriction on reporting debit/credit notes._
For example, if an invoice has a date of April 1, 2023, it cannot be reported after April 8, 2023. The validation system built into the invoice registration portal will disallow the user from reporting the invoice after the 7-day window. Hence, it is essential for taxpayers to ensure that they report the invoice within the 7-day window provided by the new time limit.
It was further clarified that there will be no such reporting restriction on taxpayers with Annual Aggregate Turnover less than 100 crores, as of now.
In order to provide sufficient time for taxpayers to comply with this requirement, which may require changes to your systems, we propose to implement it from 01.05.2023 onwards.
The Goods and Services Tax Network had earlier issued an advisory on the new e-invoice portals. The advisory had also hinted at the on-boarding of four new Invoice Reporting Portals soon. The said private IRPs are already online for the access of the taxpayers for reporting GST e-Invoices.
The advisory released today can be accessed at the official website of the Goods and Services Tax Network (GSTN) – Goods & Services Tax (GST) | News and Updates
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