Recent Amendments in GST covering E-Invoicing, Rule 86B and QRMP scheme
Recent Amendments in GST covering E-Invoicing, Rule 86B and QRMP scheme
E-invoicing under GST
Legal Provisions
N. N. 68/2019-CT Rule 48(4)
The invoice shall be prepared by such class of registered persons as may be notified by the Government, on the recommendations of the Council, by including such particulars contained in FORM GST INV-01 after obtaining an Invoice Reference Number by uploading information contained therein on the Common Goods and Services Tax Electronic Portal in such manner and subject to such conditions and restrictions as may be specified in the notification.
(5) Every invoice issued by a person to whom sub-rule (4) applies in any manner other than the manner specified in the said sub-rule shall not be treated as an invoice.
A registered person, whose aggregate turnover in a financial year exceeds 500 Crore w.e.f 01.10.2020
Any preceding financial year from 2017-18 onwards.
A registered person, whose aggregate turnover in a financial year exceeds 100 Crore w.e.f 01.01.2021
N.N. 69/2019-CT:- Common portal for the purpose of e-invoice Effective from 01.01.2020
N.N. 73/2020-CT:- Seeks to notify a special procedure for taxpayers for issuance of e-Invoices in the period 01.10.2020 – 31.10.2020.
• E-Invoicing aggregate Turnover > 500 crores ———————————————————————————————-01.10.2020
• Invoice Reference Number (IRN) for such invoice by uploading specified particulars
in FORM GST INV-01 within 30 days from the date of such invoice——————————————————–01.10.2020 to 31.10.2020
• E-Invoicing Aggregate Turnover > 100 crores ————————————01.01.2021
E-Invoice Process
Cancellation/Amendment of Reported Invoice:
The seller can initiate the cancellation of IRN of the e-invoice already reported if that invoice is required to be cancelled by him/her. The cancellation of an invoice will be done as per procedure given under accounting standards. The cancellation will be allowed within a specified time after the generation of IRN.
The cancellation of e-invoice will be done by using the ‘Cancel IRN’ API (published on the e-invoice sandbox portal). The API will be a POST API and will require the IRN that is to be cancelled as the key parameter of the payload.
The invoice number of cancelled invoice can’t be used again.
Amendment of e-invoice already uploaded on IRP will be done only on GST portal.
Any amended e-invoice, if reported to IRP, will get rejected as its IRN (unique hash) will already be existing in the IRP system. Hence, the amendment of invoices will not be possible through the IRP.
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