How to Calculate Annual Aggregrate Turnover for E invoicing

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This discussion clarifies the applicability of e-invoicing for businesses based on their annual aggregate turnover. It explains that e-invoicing is determined by turnover exclusive of tax and that if a company's turnover exceeds the threshold in a given financial year, e-invoicing will apply from the subsequent financial year. The calculation of aggregate turnover, excluding reverse charge supplies and including taxable, exempt, and export supplies, is also detailed.

Sanchit

Sanchit (Querist)

07 March 2022 Dear Sir,
We are a manufacturing Company and this F.Y. 2021-22 our Turnover (inclusive of Tax) will be greater than 20 Crore but Exclusive of tax it will be less than 20 Crore till March 2022. I want to know whether E invoicing will be applicable on us or not.
If No, then In next F.Y. i.e., 2022-23 if, We cross turnover limit of more than 20 Crore(exclusive of Tax) than E invoicing will be applicable in that year i.e. 2022-23 or it will be applicable for FY 2023-24.
& how to calculate Annual Aggregrate Turnover for E-invoicing.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

07 March 2022 “aggregate turnover” means the aggregate value of all taxable supplies (excluding the value of inward supplies on which tax is payable by a person on reverse charge basis), exempt supplies, exports of goods or services or both and inter-State supplies of persons having the same Permanent Account Number, to be computed, exclusive GST.

Sanchit

Sanchit (Querist)

11 March 2022 Sir,
Please Clarify, For e-Invoicing Applicability, Whether we have to Check Annual Turnover or Aggregrate Annual Turnover and what is the difference between them.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

11 March 2022 E invoice not applicable for you as exclusive of tax turnover less than 20 crore.
It's only annual aggregate turnover.
E invoice applicable in 2022-23 from next of crossing turnover 20 crore.

Sanchit

Sanchit (Querist)

16 March 2022 Sir,
Thanks for resolving my query but 1 query is still unresolved.
In next F.Y. i.e., 2022-23 if, We cross turnover limit of more than 20 Crore(exclusive of Tax) than E invoicing will be applicable for year i.e. 2022-23 or it will be applicable from FY 2023-24.
Please Clarify.

CA Puja Sharma

CA Puja Sharma (Expert)

16 March 2022 If your turnover will cross rs. 20 crore in FY 2022-23 then e-invoicing will apply from FY 2023-24

Further, the limit of turnover for e-invoicing has to be checked from FY 2017-18 onwards. If your aggregate turnover was more than Rs. 20 crore in any of the previous FY then e-invoicing provisions will in the current FY.

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