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E invoice reg

SDR ASSOCIATES (375 Points)

16 November 2020

What is the criteria for e- invoice

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9 Replies

RAJESH DESHPANDE (Manager-Accounts and Finance) (31 Points)
Replied 16 November 2020

As per earlier those T/o was upto 500 cr,it was mandatory from 1st oct 20, now one more addition as per new notification in Nov 20, that whose T/o is more than 100 cr (aggregated Pan base) is applicable Einvoice from 1 1 21

Shivam RC (Student) (23683 Points)
Replied 16 November 2020

As per Notification No. 88/2020 - Central Tax, dated, 10th November 2020, W.e.f 01/01/2021 Taxpayers having Aggregate Turnover more than Rs. 100 crores are required to generate E-Invoice.

SDR ASSOCIATES (375 Points)
Replied 16 November 2020

Our turnover below 10cr valantire e invoice generation possible?

JATINDER KUMAR (Accountant) (3662 Points)
Replied 16 November 2020

Yes....

SDR ASSOCIATES (375 Points)
Replied 17 November 2020

K thank you all

Shivam RC (Student) (23683 Points)
Replied 17 November 2020

I don't agree with Mr. Jatinder Kumar Sir...

@ SDR Associates, As per FAQ No. 27 on GST e-invoice / IRN System ( Version 1.3 ) issued by GSTN, dated 11th November 2020, it has been clearly clarified that for the time being generation of e-Invoice will be mandatory "only for notified class of taxpayers" and that too for their B2B Supplies and no "Voluntary generation of e-Invoicing will be allowed".

EXTRACT FROM THE FAQ's :

27). Is e-invoicing voluntary, i.e. can entities with aggregate turnover below the prescribed limit also report invoices to IRP, if they wish to do so?

Answer : No, presently, only the notified class of persons will be allowed / enabled to report invoices to IRP.

Hence you cannot generate e-Invoice voluntarily ( turnover below Rs. 10 crore ).

Regards,
Shivam RC.