APPLICABILITY E INVOICING

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This discussion clarifies the applicability of e-invoicing based on aggregate turnover. It confirms that e-invoicing becomes mandatory once a business's turnover exceeds Rs. 50 Crores. Crucially, it highlights that sales returns and credit notes must be deducted from the aggregate turnover when determining applicability.

seeta

seeta (Querist)

18 January 2022 Mr X having turnover as below:

FY 2017-18 30 Crores
FY 2018-19 32 Crores
FY 2019-20 35 Crores
FY 2020-21 33 Crores

FY 2021-22 on 31/12/2021 turnover exceed Rs.50 Crores

Is e invoicing is applicable or not?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

18 January 2022 Yes, E invoice applicable from 1st January 2022.

seeta

seeta (Querist)

19 January 2022 Sir, while calculating aggregate turnover sales return/credit note should be deducted.

Please reply on urgent

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

19 January 2022 Yes, deduct............

seeta

seeta (Querist)

20 January 2022 Sir after deducting Sales Return/ Credit Note Turnover comes to 50 Crores - 8 Crores 42 Crores.

So, E Invoicing is not applicable?

Please confirm

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

20 January 2022 Yes E invoice not applicable.

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