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Introduction of E-invoicing?

In its 35th meeting, the GST Council decided to implement a system of e-Invoicing, covering specific categories of persons, mostly large enterprises. Later on, it has been expanded to cover mid-sized businesses and small businesses as well.

What is E-invoicing?

e-Invoicing’ or ‘electronic invoicing’ is a system in which B2B invoices and a few other documents are authenticated electronically by GSTN for further use on the common GST portal.

The taxpayers must comply with the provisions of e-invoicing from the beginning of financial year 2022-23 and onwards if their aggregate turnover exceeds the specified limit in preceding financial year. Now the question arises that, how to calculate Aggregate turnover and what are the specified limits?

Aggregate Turnover:

Particular Amount
Aggregate value of all Taxable supplies
(Excluding value of inwards supplies
on which RCM is applicable)
Add: Value of Exempted supplies XXXX
Add: Export of Goods or Services or both XXXX
Add: Value to supplies to Deemed Distinct
Aggregate Turnover XXXX

The Indian government has implemented the e-Invoicing system in a phased manner and these phases are categorized on the basis of Aggregate T.O.

♦ Crux: Business with turnover 10 crores or more in FY 2021-22 must comply with the provisions of E-invoicing from 1st October 2022.

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  1. r b rao says:

    our companys turnover is more than 10 crs but we do not have B2B billing all are cash memo B2C
    please clarify whether e invoicing applicable to us or not ???

  2. Dhananjay Kumar says:

    Every registered taxable person whose aggregate annual turnover exceeds Rs. 10 Crores in any of the financial year since 2017-18 shall liable to issue E-Invoice. Earlier the limit was Rs. 20 Crores.

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June 2024