E-Invoicing mandatory for Businesses having aggregate turnover above Rs.100 crore from 1st Jan’2021
E-Invoicing mandatory for Businesses having aggregate turnover above Rs.100 crore from 1st Jan’2021
E- invoices are mandatory for businesses with a turnover of Rs 500 crore and more, which has been put into effect from October 1, 2020. With effect from 1st Jan’2021 “Aligned to the recent communications by various government officials, e-invoicing has now been notified for Rs 100 crore and above. A brief explanation is given below:
Earlier e-Invoicing has been made compulsory for businesses having an aggregate turnover of more than 500 cr. in any of the preceding financial year 2017-18 onwards.
But now with effect from 1st Jan’2021 the threshold limit for e-invoicing has been reduced to an aggregate turnover of 100cr. of any of preceding the financial year 2017-18 onwards.
The registered person falling in the threshold limit of 100 cr. will be required to report for the invoice registration portal (IRP) with effect from 01-Jan-2021.
Related Topic:
Accounting procedure of e-commerce operators and applicability of sec 52 of GST (TCS)
Applicability of E-Invoicing:
E-invoicing is not Applicable for:
- SEZ Units
- Insurance
- Banking company
- Financial institutions
- Goods transport agency
- Passenger transport agency
- Services by way of admission to an exhibition of cinematographic films in multiplex screens.
E-invoicing is Applicable for:
- Invoice
- Debit Notes
- Credit Notes
As a first step following link can be used to see the applicability of e-invoicing where GSTIN has enabled the e-invoicing for the taxpayers crossing the threshold limit.
However, we will suggest preparing the data in the following format to decide about the applicability of e-invoice:
| S.NO. | Financial Year | Aggregate Turnover |
| 1 | 2017-18 | – |
| 2 | 2018-19 | – |
| 3 | 2019-20 | – |
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Ashu Dalmia
New Delhi, India
Ashu Dalmia is Managing Partner of the firm AAP and Co., having office in Connaught Place Delhi. He is rank holder in CA Inter and also at graduation level from Lucknow university. He is has been working extensively in GST training, Consultancy and litigation in India and also handled VAT implementation projects for mid and large corporates in Saudi Arabia. He was special Invitee to Indirect Tax Committee of ICAI for year 2018-19. He is faculty in ICAI to train professionals for GST in India and VAT for UAE. He has authored books on GST: “GST A Practical Approach” published by Taxman, “Audit and Annual Return in GST” published by Wolters Kluwer-CCH GST Referencer and Manual published by LMP. He has taken more than 300 workshops and trainings on various forums: like ICAI, ASSOCHAM, CII, PHD Chamber of commerce, trade associations in India, UAE and KSA.
