??Desk of CA. Praveen Sharma Series-609?? Important Update on E-Invoicing
CA. Praveen Sharma (Corporate Trainer)
Co-Founder @ The GST Mitra | Financial Modeling, Financial Analysis
Time limit of 30 days for reporting e-Invoices on IRP portals for taxpayers with an AATO of Rs. 100 crores and above was implemented, the threshold has now been lowered to cover taxpayers with an AATO of 10 crores and above.
Therefore, from 1st April 2025, taxpayers with an AATO of 10 crores and above would not be allowed to report e-Invoices older than 30 days from the date of reporting on IRP portals.
Applicability Now:
As of August 1, 2023, e-invoicing is mandatory for businesses with an aggregate turnover exceeding ?5 crore in any financial year from 2017-18 onwards. The aggregate turnover includes the turnover of all GSTINs under a single PAN across India.
Relevant Notification/Circulars
Notification No. 73/2020 – Central Tax dated 1st October 2020.
Notification No. 69/2019-CT dated 13.12.2019.
Circular No. 198/10/2023-GST dated 17.07.2023.
Ask with https://taxbotgpt.ai/ for more information.
CA. Praveen Sharma