CBIC has made the e-invoicing system mandatory for all registered persons with a turnover of more than Rs.5 crore from 1st August ,2023. (Turnover exceeds in any FY from 2017-18 and onwards).
The threshold limit for e-invoicing has changed as per CBIC Notification No. 10/2023-Central Tax dated May 10, 2023.
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.
Our other articles on E-invoice can be accessed from the below link:
GST Update – || E-Invoice || – RMPS (rmpsco.com)
Disclaimer: This article is only a knowledge-sharing initiative and is based on the Relevant Provisions as applicable and as per the information existing at the time of the preparation. In no event, RMPS & Co. or the Author or any other persons be liable for any direct and indirect result from this Article or any inadvertent omission of the provisions, update, etc if any.
