GST E-Invoicing - Enhancement of Aggregate Turnover to Rs 500 crore

Last updated: 27 January 2021

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The Central Board of Indirect Taxes and Customs (CBIC) has increased the aggregate turnover threshold for mandatory e-invoicing under GST to £500 crore. This change, effective from 1st October 2020, significantly expands the number of businesses required to adopt e-invoicing. A new e-invoice schema (Version 1.1) has also been released, and businesses in Special Economic Zones are exempt from these provisions.

CBIC has issued Notification No 60/2020 - Central Tax and Notification No 61/2020 - Central Tax Dated 30th July, 2020 enhancing threshold for preparing E-Invoice to Rs 500 Crores. Earlier the authority had said that the limit for preparing E-Invoice was Rs 100 Crores. The provisions shall come into effect from 1st October, 2020.

GST E-Invoicing Threshold Raised to £500 Crore

The summary of notification is summarised below

Sl. No	Notification No	Date	Summary of Notification
1	61/2020 - Central Tax	30-07-2020	The turnover limit for applicability of E-Invoicing provisions for registered Taxpayers has been enhanced to Five hundred crore rupees (Earlier the said limit was Rs 100 Crores) E-Invoicing shall not be applicable to a “Special Economic Zone”
2	60/2020 - Central Tax	30-07-2020	New Format/ Schema for E-Invoice has been released (Version 1.1).
3.	13/2020-Central Tax	21-03-2020	Date for implementation is proposed from 1st October, 2020

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Rohit Kumar Singh

Founder - TaxMarvel Consulting Services LLP

Rohit is a CA, CS and CMA and Gold Medalist Law Graduate. He has also passed DISA (ICAI). Rohit is Founder of TaxMarvel Consulting Services LLP (a niche consulting firm engaged in providing GST Services to Corporates and SMEs) He was earlier head ofGST Business (GST Suvidha Provider) for Karvy Data Management Servic ... Read more

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