E-INVOICE MANDATORY FOR TAXPAYERS ABOVE RUPEES 50 CRORES
FROM 1.4.2021 UNDER GST
The Goods and Services Tax Act,
2017 came into force in
The Central Government has introduced E-Invoice for tax payers as shown below:
|
Taxpayer Turnover |
Effective Date |
|
Above 500 Crores |
01.10.2020 |
|
Above 100 Crores |
01.01.2021 |
The Central Government has now extended the E-invoicing System to the taxpayers whose annual turnover is above rupees 50 crores with effect from 1.4.2021.
The relevant notification is given below for ready reference:
[To be published in the Gazette of
(i)]
Government of India Ministry
of Finance (Department of Revenue)
Central
Board of Indirect Taxes
and
Customs
Notification No. 05/2021 – Central
Tax
G.S.R.....(E).– In exercise of the powers conferred by
sub-rule (4) of rule 48 of the Central
Goods and Services Tax Rules, 2017, the Government, on the
recommendations of
the Council, hereby makes the following
further amendment in the notification of the
Government of India in the Ministry
of Finance (Department of Revenue), No. 13/2020 –
Central Tax, dated
the 21st March, 2020, published in the
Gazette
of India,
Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 196(E), dated 21st March, 2020, namely:-
In the said notification, in the first
paragraph,
with
effect from the 1st day of April, 2021, for
the
words “one hundred crore rupees”,
the words “fifty crore rupees” shall be substituted.
[F. No.
CBEC-20/13/01/2019-GST]
(Pramod Kumar) Director, Government of
Note: The principal notification
No. 13/2020 – Central Tax, dated the 21st March, 2020
was published in the
Gazette of India, Extraordinary, vide number G.S.R. 196(E), dated 21st March, 2020 and was last amended vide notification No. 88/2020-Central Tax, dated the 10th November,
2020, published vide
number G.S.R. 704(E), dated the
10th November, 2020.