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E Invoice Effective Date

vijaykumar sindhi (CA) (116 Points)

04 April 2025

During the year 2024-25 Turnover till November 2024 exceeds 5 crore. Weather to prepare E invoice from December 2024 or from Next year 2025-26

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Rama chary Rachakonda (Master in Accounts & high court Advocate email ID:ramachary64@gmail.com voice no:9989324294) (7554 Points)
Replied 04 April 2025

As per the GST regulations, e-invoicing is mandatory for businesses with a turnover exceeding ₹5 crores in a financial year.

Threshold Exceedance: Since your business has exceeded the ₹5 crore turnover threshold in the financial year 2024-25 (by November 2024), you are required to implement e-invoicing.

Effective Date for E-Invoicing: The effective date for e-invoicing is the 1st day of the month immediately following the quarter in which the threshold is exceeded.

Applicable Quarter: In your case, the threshold was exceeded in the quarter October-December 2024. Effective Date: Therefore, you are required to implement e-invoicing from *January 1, 2025*.

Recommendation: To ensure compliance, prepare your system and processes to generate e-invoices from January 1, 2025.

You can start testing and generating e-invoices on a voluntary basis from December 2024 to ensure a smooth transition. Important Note: Keep in mind that the GSTN (Goods and Services Tax Network) may announce changes to the e-invoicing regulations, so it's essential to stay updated with the latest notifications and guidelines.

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vijaykumar sindhi (CA) (116 Points)
Replied 17 April 2025

Thank you for your prompt response sir , Recently I have found Notification No. 70/2020 central tax . Ammendment was made and word financial year substituted with preceding financial year. Please verify and correct this if I am wrong

Rama chary Rachakonda (Master in Accounts & high court Advocate email ID:ramachary64@gmail.com voice no:9989324294) (7554 Points)
Replied 18 April 2025

Notification No. 70/2020-Central Tax, dated September 30, 2020, indeed makes an amendment to Notification No. 13/2020-Central Tax, dated March 21, 2020. According to the notification, the words "a financial year" are substituted with "any preceding financial year from 2017-18 onwards". This change affects the applicability of certain GST provisions.¹ ² To clarify, the amendment: - *Substitutes "a financial year" with "any preceding financial year from 2017-18 onwards"*: This change impacts the scope of the notification, making it applicable to preceding financial years starting from 2017-18. - *Amends Notification No. 13/2020-Central Tax*: The original notification was published on March 21, 2020, and was later amended by Notification No. 61/2020-Central Tax, dated July 30, 2020. The amendment is related to Rule 48(4) of the Central Goods and Services Tax Rules, 2017.

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