E invoicing and 194q and 206c 1h

Dear Sir,

My client turnover has reached above 10 cr. In current financial year. So e- invoicing applicable to them in current financial year....

And 194Q & 206 C (1H)
Replies (3)
Quick Summary
This discussion clarifies e-invoicing requirements for businesses whose turnover has exceeded 10 crore in the current financial year. While e-invoicing may not be mandatory for the current fiscal year if previous years' turnover was below 10 crore, it will become compulsory from FY 2023-2024 for most businesses. The post also touches upon the applicability of sections 194Q and 206C(1H) alongside e-invoicing, with all provisions coming into effect from April 1, 2023.

As far as E-Invoicing is concerned , assuming the aggregate turnover in all the preceeding financial years i.e., from FY 2017-18 to 2021-22 is less than Rs 10 crores, you don't have to comply with e-invoicing provisions for the current FY. However, you will have to compulsorily comply with e-invoicing provisions from the beginning of the FY 2023-2024, provided you are not

1) An insurer or a banking company or financial institution

2) GTA

3) A registered person supplying services by way of admission to the exhibition of cinematographic films in multiplex services

4) A registered person supplying passenger transportation services

5) A government department and local authority
 

E invoice and 194q n 206c1h all applicable from 1.4 23
Thankyou

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