The Central Board of Indirect Taxes and Customs ( CBIC ) has enabled the facility to Taxpayers to check the eligibility of E-Invoice on GST Portal.
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 taxpayer can check the eligibility for e-Invoicing by following steps:
Earlier, 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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