CBIC notifies that registered persons having aggregate turnover of more than Rs. 100 crores in a financial year, shall prepare e-invoice in respect of supply of goods or services or both to a registered person w.e.f. 01 April 2020.
Vide Notification No. 68/2019 – Central Tax dated 13 December 2019, sub-rule (4) to Rule 48 of the CGST Rules has been inserted to make provision for e-invoicing. The said sub-rule provides that e-invoice shall be prepared by such class of registered persons as may be notified, by including such particulars contained in FORM GST INV-01 after obtaining an Invoice Reference Number by uploading information contained therein on the Common GST Electronic Portal;
It has also been notified that an invoice issued by a registered person, whose aggregate turnover in a financial year exceeds Rs. 500 crores, to an unregistered person (B2C invoice), shall have Quick Response (QR) code. It has been further provided that where such person makes a Dynamic QR code available to the recipient through a digital display, such B2C invoice containing cross-reference of the payment using a Dynamic QR code, shall be deemed to be having QR code.
The said provisions of the e-invoicing system shall come into force on 01 April 2020
Disclaimer:
The information provided in this update is intended for informational purposes only and does not constitute legal opinion or advice. Readers are requested to seek formal legal advice prior to acting upon any of the information provided herein. This update is not intended to address the circumstances of any particular individual or corporate body. There can be no assurance that the judicial/ quasi judicial authorities may not take a position contrary to the views mentioned hereinrra quis.
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