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E invoice applicability if turnover cross 5 crore during Current FY

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Aj Style

Student

243 Points Posted on 07 November 2023

During last 5 PY my tournover is below 5 crore but during FY 23-24 It crosses 5 crore in Oct month, is e invoice applicable to me?

I am trying to make login for for e invoice but portal say not applicable for e invoice

Replies (2)

Quick Summary

This discussion clarifies the applicability of e-invoicing when a business's turnover exceeds 5 crore during the current financial year. While the general rule is for FY 24-25, an amended notification states that taxpayers with a turnover of 5 crore or more in any financial year from 2017-18 must issue e-invoices from August 1st, 2023. The core question is whether e-invoicing applies immediately upon crossing the 5 crore threshold within the current financial year.

Rajendra Prasad

Employee Private

1142 Points Posted on 08 November 2023

You are only has to generate e-invoice from Fy 24-25.

SELVAKUMAR

28 Points Posted on 05 February 2024

The Amended Notification says taxpayers with Rs. 5Cr + turnover in any financial year from 2017-18 shall issue e-invoice w.e.f. 1st August, 2023. Does this mean, should we issue e-invoice the moment the TO crosses Rs. 5Cr including the current year ? Any one can please reply.