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The e-invoice system under GST has become mandatory from 1st October 2020 for all registered taxpayers having turnover greater than Rs.500 crore in FY 2019-20. Thereafter, it got extended to businesses with a turnover of more than Rs.100 crore from 1st January 2021.
Later on, it was extended to those taxpayers with turnover ranging between Rs.50 crore to Rs.100 crore from 1st April 2021. The government thereafter extended the e-invoicing applicability to businesses with more than Rs 20 crore turnover w.e.f 1st April 2022. As per the latest update, e-invoicing shall apply to those businesses with a turnover of more than Rs.10 crore.
The annual turnover to be considered may belong to any preceding year from FY 2017-18.
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1st August 2022
The e-Invoicing system for B2B transactions has now been extended to those with an annual aggregate turnover of more than Rs.10 crore up to Rs.20 crore starting from 1st October 2022, vide notification no. 17/2022.
24th February 2022
The e-Invoicing system will get extended to those annual aggregate turnover of more than Rs.20 crore up to Rs.50 crore starting from 1st April 2022, vide notification no. 1/2022
30th June 2021
The CBIC has issued a notification seeking to waive the penalty imposed on non-compliance of dynamic QR code provisions for B2C invoices between 1st December 2020 and 30th September 2021.
1st June 2021
CBIC has notified vide Central Tax Notification no.23 dated 1st June 2021 that the e-invoicing system shall not apply to a government department and local authority.
30th March 2021
The CBIC has issued a notification seeking to waive the penalty imposed on non-compliance of dynamic QR code provisions for B2C invoices between 1st December 2020 and 30th June 2021, provided the said person complies with the provisions of the said notification from 1st July 2021.
An e-way bill has two parts; Part A contains invoice details such as the GSTIN of the supplier and recipient, invoice number, delivery address, HSN codes, etc. Part B has transporter details such as transporter ID, vehicle number, etc. Under the present system, both parts are generated from the e-way bill portal by the taxpayer by updating invoice details and transporter details manually.
The implementation of e-invoicing will have an impact on the e way bill system as well. The existing users of the e-way bill portal can use the same credentials to log in e-invoice portal instead of getting a new registration. With the implementation of e-invoicing, e-way bills will be auto-populated from the e-invoicing portal, unlike the current system. Once the e-invoice is successfully validated, the Part A & Part B of the e-way bill will be auto-populated provided with some optional details (transporter ID and mode of transport) in the e-invoice are updated. The motive behind these changes is to simplify the process of creating e-way bills.
There are facilities provided on the e-invoice portal for :
There will be no change in the process of generating e-way bills. However, an additional facility to generate e-way bills from IRN will be provided. A user can follow the below steps:
Currently, there is no provision to address the cancellation of e-way bills through the cancellation of e-invoices. In the case of incorrect invoices, the same errors will flow in e-way bills as well. Recently, the NIC clarified that the e-way bills must be cancelled first followed by the IRN. An e-way bill cannot be generated for cancelled IRN.
The objective behind the integration of the e-invoicing system with the e-way bill system is to make the entire process easy and automated. Along with this, the government has also linked e-way bills to the GST return filing. The e-way bill generation will be blocked for the taxpayers who have two or more consecutive GST returns pending to be filed. These integrations will have the following benefits for the businesses:
It will also benefit the government in ensuring reduced tax evasion.
e-Invoicing became mandatory for all taxpayers from 1st October 2020, whose aggregate turnover in a financial year exceeded Rs.500 crore. Thereafter, taxpayers with a turnover of more than Rs.100 crore must comply from 1st January 2021 whereas taxpayers with a turnover of more than Rs.50 crore must begin complying from 1st April 2021.
The government extended the e-invoicing applicability to businesses with more than Rs.20 crore turnover w.e.f 1st April 2022. As per the latest update, businesses with a turnover of more than Rs.10 crore must generate e-invoices from 1st October 2022.
Yes, regular e-way bill generation will continue along with an additional facility for generating e-way bills with IRN.
It can be done with the help of API, which will be released shortly.
Yes, both the systems will run independently as of now. But, gradually direct EWB generation will be blocked for specified taxpayers.
Re-generation of EWB on the same document is possible but not for IRN as per policy.