GST E-Invoicing – Enhancement of aggregate turnover for applicability of E-Invoicing
CBIC has issued Notification No 60/2020 – Central Tax and Notification No 61/2020 – Central Tax Dated 30th July, 2020 enhancing threshold for preparing E-Invoice to Rs 500 Crores. Earlier the said limit for preparing E-Invoice was Rs 100 Crores. The provisions shall come into effect from 1st October, 2020.
The summary of notification is summarised below
| Sl. No | Notification No | Date | Summary of Notification |
| 1 | 61/2020 – Central Tax | 30-07-2020 | The turnover limit for applicability of E-Invoicing provisions for registered Taxpayers has been enhanced to Five hundred crore rupees (Earlier the said limit was Rs 100 Crores)
E-Invoicing shall not be applicable to a “Special Economic Zone” |
| 2 | 60/2020 – Central Tax | 30-07-2020 | New Format/ Schema for E-Invoice has been released (Version 1.1). |
| 3. | 13/2020-Central Tax | 21-03-2020 | Date for implementation is proposed from 1st October, 2020 |
You can contact us at: Email: Rohit@taxmarvel.com Mobile No. +91-9503031788
Disclaimer: The content of this document is for general information purpose only. TaxMarvel shall not accept any liability for any decision taken based on the advice. You should carefully study the situation before taking any decision.
