E-INVOICE MANDATORY FOR TAXPAYERS
ABOVE RUPEES 5 CRORES FROM 1.8.2023 UNDER GST
The Goods and Services Tax Act, 2017
came into force in India with effect from 1.7.2017.
The Central Government has already
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 |
|
Above 50 Crores |
01.04.2021 |
|
Above 20 Crores |
01.04.2022 |
|
Above 10 Crores |
01.10.2022 |
The Central Government has now extended
the E-invoicing System to the taxpayers whose annual turnover is above rupees 5
crores with effect from 1.08.2023.
The relevant Notification is given
below for ready reference:
[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3,
SUB- SECTION (i)]
GOVERNMENT OF INDIA MINISTRY OF FINANCE
(DEPARTMENT OF REVENUE)
CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS
NOTIFICATION
No. 10/2023 – Central Tax
New Delhi, the 10th May, 2023
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 August, 2023, for the words “ten crore
rupees”, the words “five crore rupees” shall be substituted.
[F. No. CBIC- 20021/1/2023-GST]
(Alok Kumar)
Director
Note: The
principal notification No.
13/2020 – Central Tax, dated the 21st March, 2020 was published in the Gazette
of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 196(E), dated the 21st March, 2020
and
was last amended vide notification No. 17/2022-Central Tax, dated the 1st August, 2022,
published
vide number G.S.R. 612(E), dated the 1st August, 2022.