When shall the e-invoicing provisions be applicable in case Turnover exceeds 50 Crores during FY 2021-22?
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Quick Summary
This discussion clarifies the applicability of e-invoicing under GST when a business's turnover surpasses 50 Crores during the current financial year. Generally, if your turnover exceeded 50 Cr in FY 2021-22 and not in previous years (2017-18 to 2020-21), e-invoicing becomes applicable from the next financial year. However, if your current year's turnover is already over 50 Cr, e-invoicing is applicable from April 2021.
Applicable in next FY 2022-23, provided you didn't had turnover above 50 crores in any of the FY from 2017-18 to 2020-21. Then it will be applicable from this year only.