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 |
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