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.