E-Invoice made applicable to the taxpayers having Turnover more than Rs.10 crore
Central Board of Indirect Tax (CBIC) vide Notification No. 17/2022 – Central Tax dated 1st August 2022 expanded the scope of e-invoice applicability. The government by amending its earlier notification no. 13/2020 dated 21st March 2020, e-invoice made mandatory for the taxpayers whose aggregate turnover exceeds rupees TEN CRORE with effect from 1st October 2022.
Recently government was made e-invoice mandatory for those taxpayers whose turnover exceeds Rs.20 crore with effect from 1st April 2022 now its expanded the scope for the taxpayers whose turnover exceeds Rs.10 crore and its expected that from the beginning of next financial year government is going to cover all taxpayers whose aggregate turnover exceeds Rs.5 crore.
The extract of the current notification can be read as under;
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 1 st day of October, 2022, for the words “twenty crore rupees”, the words “ten crore rupees” shall be substituted.