CBIC has made the e-invoicing system mandatory for all registered persons with a turnover of more than Rs.20 crore from April 1, 2022. (Turnover exceeds in any FY from 2017-18 and onwards).
Original Notification 13-2020 has been amended from time to time and turnover limit is now reduced to Rs. 20 crores in latest Notification 01-2022(Click to follow link).
Once E-invoicing is implemented, it will be implemented for all subsequent financial years. As a result, once E-invoicing is implemented, tax payer can not exit even though turnover comes below the applicable limit in any of the succeeding financial year.
The Notification does not apply to B2C transactions.
Exclusion of SEZ units (but not SEZ Developers) and certain classes of taxpayers such as banks & financial institutions, GTA, etc. shall continue.
