CBIC expanded e-invoice Applicability for small Taxpayers applicable w.e.f 1st April 2022
Notification No. 01/2022 – Central Tax
New Delhi, the 24th February, 2022
The CBIC vide Notification No. 01/2022 – Central Tax dated February 26, 2022 has issued amendment in NN 13/2020, so as to notify such turnover limit from INR 50 crores to INR 20 crores in a following manner:
W.e.f. April 1, 2022, the class of registered person are mandatorily required to issue e-invoice, whose aggregate turnover in any preceding financial year from 2017-18 onwards exceeds INR 20 crores.
Now, the e-invoicing is mandatory for the taxpayers having turnover of more than INR 20 crore from April 1, 2022.
Extract of notification can be read as under;
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, 2022, for the words “fifty crore rupees”, the words “twenty crore rupees” shall be substituted.