E-INVOICE MANDORTY FROM 1st ARIL 2021

e-invoice

E-INVOICE MANDORTY FROM 1st ARIL 2021

E-INVOICE MANDORTY FROM 1st ARIL 2021

E-invoicing under GST – What is e-Invoicing? Applicability & Implementation Date

Latest Updates

Update as on 8th March 2021

The CBIC has notified that e-invoicing will be applicable from 1st April 2021 for businesses with a turnover of more than Rs.50 crores (in any financial year from FY 2017-18 onwards).

Update as on 1st February 2021

Details from the reported e-invoices are being auto-populated in the GSTR-1 return. However, the GSTN has informed taxpayers that while pulling the e-invoice data into the GST System, details of some invoices were not getting populated into the GSTR-1. A complete data pull is likely to take some more time. Hence, taxpayers are advised not to wait for the complete auto-population of data, and instead proceed with preparing and filing of the GSTR-1, by the due date, based on the data as per their records.

Update as on 29th November 2020

The CBIC issued a notification seeking to waive the penalty imposed on non-compliance of dynamic QR code provisions for B2C invoices between 1st December 2020 and 31st March 2021, provided the eligible registered person complies with these provisions from 1st April 2021.

Update as on 10th November 2020

The taxpayers having an aggregate turnover exceeding Rs.100 crore should implement e-Invoicing from 1st January 2021.

Update as on 30th July 2020

1. A new refined format of e-invoice has been notified by CBIC adding 20 new fields and removing 13 fields. Certain fields have undergone changes in character length as well.

2. e-Invoicing system shall apply to those taxpayers with annual turnover exceeding Rs 500 crore instead of Rs 100 crore.https://dssoftweb.com/

3. Special Economic Zones (SEZ) units shall also be exempted from issuing e-invoices.https://onlineretailhub.in/

E-INVOICE MANDORTY FROM 1st ARIL 2021

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