E Invoice generation time limit

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1 Points Joined January 2025

My Firm Annual Turnover crossed 5 crore (5.18 crore exactly) as on 31st Mar 2024...I am supposed to raise E-invoice from Apr 1 2024 as per rule...but I came to know about the turnover when my GSTR 9 is filed on Dec 31 24....Can i raise E invoice at IRP for the past 9 months back dated..If not what is the process to rectify this issue..

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Akshy

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On 05 January 2025 at 14:03 Report
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Master in Accounts & high court Advocate
9045 Points Joined December 2011

I'll guide you through the process. E-Invoicing Requirements As your firm's annual turnover crossed ₹5 crores on March 31, 2024, you were required to generate e-invoices from April 1, 2024.

 Rectification Process Since you didn't generate e-invoices for the past 9 months, you'll need to follow these steps:

 1. *Generate e-invoices for past transactions*: You can generate e-invoices for the past 9 months through the IRP (Invoice Registration Portal) or through a GST Suvidha Provider (GSP).

However, these e-invoices will be considered as "late-generated" invoices.

2. *Report these invoices in GSTR-1*: You'll need to report these late-generated e-invoices in your GSTR-1 return for the respective months.

Ensure you report them under the correct table and section.

3. *Pay applicable penalty and interest*: As you've failed to generate e-invoices within the prescribed timeframe, you may be liable for penalties and interest. You'll need to calculate and pay these amounts.

4. *File a petition for condonation of delay*: You can file a petition with the jurisdictional tax officer, explaining the reasons for the delay in generating e-invoices.

 The tax officer may condone the delay, but this is not guaranteed. Important Points

1. *Late-generated invoices*: These invoices will be considered valid for input tax credit (ITC) purposes, but you may face penalties and interest for late generation.

 2. *GSTR-1 amendments*: Ensure you amend your GSTR-1 returns for the respective months to reflect the correct e-invoice details.

3. *Consult a tax professional*: It's recommended to consult a tax professional or GST expert to ensure you comply with all the requirements and follow the correct procedure. Please note that the tax authorities may take a lenient view if you rectify the issue promptly and pay any applicable penalties and interest.

However, this is not guaranteed, and you should be prepared for any consequences.

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On 06 January 2025 at 09:47


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