Einvoice in GST new rule 20Cr

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ARCHANA (Querist)
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01 March 2022 Sir/Mam,

If Merchant Exporters turnover as follows:
2017-18 6 Cr
2018-19 9 Cr
2019-20 7 Cr
2020-21 21 Cr
2021-22 2 Cr till now
As per new notification who crossed 20 cr turnover previous year einvoice is applicable mentioned, it is applicable to proprietorship firm as per above turnovers.

if applicable exporters einvoice procedure plz explain .

Thanking you,

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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01 March 2022 Yes, it's applicable from 1st April 2022.

Q.1 Please clarify whether exports would require e-invoice compliance.

Ans: Yes.

Reason. The e-invoice schema also caters to the export invoices as well. The e-invoice schema is based on most common standard, this will help buyer’s system to read the e-invoice.

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ARCHANA

ARCHANA (Querist)
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02 March 2022 Thank you sir for your reply, The einvoice in INR or USD

CA Puja Sharma

CA Puja Sharma (Expert)
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02 March 2022 Yes e-invoicing will apply in your case because turnover during FY 2020-21 is more than 20 crores.

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CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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02 March 2022 Export invoice should be in USD.

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