Attention GST Taxpayers whose aggregate turnover exceeds Rs.20 crore in Any Financial Year!

Attention GST Taxpayers whose aggregate turnover exceeds Rs.20 crore in any financial year! Generating E-invoice for B2B supply of goods or services or both, or for Exports is mandatory w.e.f April 01, 2022.

E-invoicing is now mandatory for Turnover of more than Rs 20 cr from 1st April 2022 as per notification no. issued by Central Board of Indirect Taxes & Customs [CBIC].  Central Board of Indirect Taxes & Customs [CBIC] wide Notification Number 01/2022 dated 24th Feb 2022 confirms that E-Invoicing is now mandatory for Turnover of more than Rs 20 cr from 1st April 2022.

Currently, the limit for generating the E-Invoice for Companies having a Turnover of Rs 50 Cr. and more have been put into effect from 1st April 2021, while for companies having a turnover more than Rs 100 crore was made effective from 1st Jan 2021 and turnover more than Rs 500 Cr. was made effective from 1st October 2020.