{"id":627,"date":"2022-06-09T05:10:02","date_gmt":"2022-06-09T05:10:02","guid":{"rendered":"https:\/\/consultcaonline.com\/?p=627"},"modified":"2022-06-09T05:10:02","modified_gmt":"2022-06-09T05:10:02","slug":"e-invoicing-applicability-registration","status":"publish","type":"post","link":"https:\/\/consultcaonline.com\/index.php\/2022\/06\/09\/e-invoicing-applicability-registration\/","title":{"rendered":"E-INVOICING – APPLICABILITY & REGISTRATION"},"content":{"rendered":"\n

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E-Invoicing is a system for authentication of B2B invoices electronically by the GSTN. Under the electronic invoicing framework, a unique Invoice Reference Number (IRN) is issued against each invoice digitally using Invoice Registration Portal (IRP) managed the GSTN. Maximum 100 items can be incorporated in a single invoice.<\/p>\n\n\n\n

E-Invoicing eliminates the need to enter data manually in different portals, i.e., we are not required to enter the same data again and again into GST Portal, E-Way Bill Portal and in the E-Invoice Portal.<\/p>\n\n\n\n

E-Invoicing also helps to track the invoices in real-time. It helps in resolving a large gap in data reconciliation under GST to reduce the mismatch of errors. It provides a framework to quickly access the complete invoice related details.<\/p>\n\n\n\n

APPLICABILITY<\/strong><\/h4>\n\n\n\n

An assessee shall comply with the provisions of e-invoicing if their aggregate turnover exceeds the specified limit in any financial year after the implementation of GST, i.e., 2017-18 onwards. The calculation of aggregate turnover shall include the turnover of all the GSTINs issued under a single PAN across India.<\/p>\n\n\n\n

PHASE<\/strong><\/td>APPLICABLE IF<\/strong><\/td>APPLICABILITY DATE<\/strong><\/td><\/tr>
I<\/strong><\/td>TURNOVER > 500 CRORES<\/td>01.10.2020<\/td><\/tr>
II<\/strong><\/td>TURNOVER > 100 CRORES<\/td>01.01.2021<\/td><\/tr>
III<\/strong><\/td>TURNOVER > 50 CRORES<\/td>01.04.2021<\/td><\/tr>
IV<\/strong><\/td>TURNOVER > 20 CRORES<\/td>01.04.2022<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

Example: <\/strong>Suppose PQR Ltd had aggregate turnover as follows:<\/p>\n\n\n\n

YEAR<\/strong><\/td>TURNOVER<\/strong><\/td><\/tr>
FY 2017-18<\/td>Rs.12 crore<\/td><\/tr>
FY 2018-19<\/td>Rs.16 crore<\/td><\/tr>
FY 2019-20<\/td>Rs.23 crore<\/td><\/tr>
FY 2020-21<\/td>Rs.18 crore<\/td><\/tr>
FY 2021-22<\/td>Rs.14 crore<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

PQR Ltd shall mandatorily generate e-invoices from 01.04.2022 irrespective of the current year\u2019s aggregate turnover as it has crossed the threshold limit of Rs.20 crore turnover limit in FY 2019-20.<\/p>\n\n\n\n

Following class of taxpayers are currently covered under e-invoicing:<\/h5>\n\n\n\n