E-invoice under GST applicability turnover w.e.f. 01/04/2021
Update on 08/03/2021 : E-invoice under GST applicability turnover
CBIC issued Notification No. 05/2021–Central Tax, dated 08th March, 2021, revising turnover threshold for applicability of E-invoice. As per the notification w.e.f. 01/04/2021, e-invoicing shall be applicable to the registered person having aggregate turnover exceeding Rs. 50 crores in any previous financial year post GST implementation.
Turnover limit up to 31/03/2021 for e-invoice
The CBIC vide Notification No. 88/2020–Central Tax dt 10th November 2020 has amended Notification no 13/2020 dt 21st March 2020, and revised turnover limit for applicability of e-invoicing. As per the notification e-invoicing shall be applicable in case of registered person having aggregate turnover exceeding Rs 100 crores in a financial year, with effect from 1st January 2021. Earlier turnover limit prescribed vide Notification No. 61/2020–Central Tax dt 30th July 2020 was Rs. 500 crore in a financial year.
E-invoicing under GST notification 05/2021-cgst 08/03/2021
The updated version of this article is available here: Latest on e-invoice applicability
