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

seeta

seeta (Querist)
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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)
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19 January 2022 Yes, deduct............

seeta

seeta (Querist)
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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)
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20 January 2022 Yes E invoice not applicable.

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