IndiaGST - eInvoice

Effective date for eInvoice & its threshold

CBIC has notified a new Schema/Version for e-invoice (version 1.1) in Form GST INV-1 vide Notification No.60/2020 – Central Tax dated 30-Jul-2020. Further, the CBIC vide Notification No.61/2020 – Central Tax dated 30-Jul-2020 has

1.   Increased the threshold limit of applicability of e-Invoice from aggregate turnover of “One hundred crores” to “Five hundred crores”; and

2.   Non-applicability of e-invoice to SEZ Unit.

 

Hence, please note that for registered persons with aggregate turnover in a Financial year of more than 500 Crores are required to comply with e-invoice effective 01-Oct-2020.

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