Threshold for e-Invoice reduced from Rs.10 Crs to Rs. 5 Crs. wef 01-08-2023

GST UPDATES 11-05-2023:-

Threshold limits for e-Invoice obligations has now been reduced from 10 Crs.?to?Rs.5 Crs.

The CBIC vide Notification No:-10/2023 Central Tax dt:10-05-2023 propose to implement e-invoicing for the taxpayers having Aggregate Annual turnover (AATO) exceeding Rs. 5 Crore from 1st August 2023.?

This amendment to parent Notification No.13/2020 CT, dt. 21-03-2020 has been made in accordance with sub-rule (4) of rule 48 of the Central Goods and Services Tax Rules, 2017, on the recommendation of the GST Council.?

The present limit of Rs. 10 crore has now been reduced to Rs. 5 crore.?

It is important to note that E-Invoice will be applicable if the Aggregate Turnover exceeds Rs. 5 crore in any of the previous 5 years, starting from 2017-18 including Exempted Turnover.

Another step in curbing tax evasion and digitising transactions. It may be gradually reduced to 1 Crore.?

K. SRIDHAR.

Dy. Commissioner (ST) Retd.?

Puducherry