E-Invoicing compulsory for turnover above Rs. 20 crores w.e.f. 01-04-2022
E-Invoicing was a major step by the GST department towards digitalization of the tax system. In the initial phases, e-invoicing was made compulsory for a turnover threshold of Rs. 500 Crores which was later reduced to Rs. 100 crores and then to Rs. 50 crores.
Now to move further, the Government has reduced the threshold limit for e-invoicing from the present Rs. 50 Crores to Rs. 20 Crores. This will be effective from 01st April 2022. For this purpose, the CBIC has issued Notification No. 01/2022- Central Tax dated 24th February 2022 as below:
“In exercise of the powers conferred by sub-rule (4) of rule 48 of the CGST 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 1st day of April, 2022, for the words, “fifty crore rupees”, the words “twenty crore rupees” shall be substituted.”
