Implementation of E-Invoice for Turnover over Rs 50 Crores

Rohit Kumar Singh | Last updated: 10 March 2021

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Quick Summary

The Central Board of Indirect Taxes and Customs (CBIC) has mandated e-invoicing for businesses with an aggregate turnover exceeding Rs 50 Crores. This implementation, detailed in Notification No. 05/2021 - Central Tax dated 8th March 2021, came into effect from 1st April 2021. This change aims to streamline tax processes for larger enterprises.

The Central Board of Indirect Taxes and Customs (CBIC) has issued Notification No 05/2021 - Central Tax dated 8^th March, 2021 for the Implement e-invoicing for the taxpayers having aggregate turnover exceeding Rs. 50 Cr from 1^st April, 2021

E-Invoice Mandate: Turnover Over Rs 50 Crores

The summary of such notifications along with link to said CGST notifications is provided under -

Notf No and Date	Summary of Notification	Effective Date
05/2021 – Central Tax dated 8^th March 2021	Notification for implementing e-invoicing for the taxpayers having aggregate turnover exceeding Rs. 50 Cr	1^st April 2021

FAQ :

Businesses with an aggregate turnover exceeding Rs 50 Crores are required to implement e-invoicing.

The e-invoicing mandate for businesses with a turnover exceeding Rs 50 Crores became effective from 1st April 2021.

The Central Board of Indirect Taxes and Customs (CBIC) issued the notification.

The relevant notification is No. 05/2021 - Central Tax, dated 8th March 2021.

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About the Author

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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