The Central Board of Indirect Taxes and Customs ( CBIC ) has enabled the facility to register and login for assessees with a turnover of Rs 20 cr to 50 cr. The CBIC specified the reduction in the applicability of the GST e-invoicing limit to Rs 20 crore from Rs 50 with effect from the date 1st April 2022.
E-invoicing supports the exchange of the invoice document (structured invoice information) between supplier and the buyer in a combined electronic format through the method of standard e-invoice schema (INV-01) via looping the government council that is invoicing portal to keep examining the dubious assessee.
CBIC reported that the registered individual, excluding the specific economic zone unit and those referred to in the sub-rules (2), (3), (4), and (4A) of rule 54 of the GST rules, whose average turnover in any former fiscal year from 2017-18 onwards is more than Rs 500 cr as a class of the enrolled individual who will make the invoice and the additional mentioned documents under terms of sub-rule (4) of rule 48 of the specified rules towards the supply of goods or services or both to the enrolled individual or for exports.
Subsequently, the applicability of the GST e-invoicing limit was Rs 500 cr till the date 31st Dec 2020, after that, it went to Rs 100 cr and then diminished to Rs 50 cr now it again restrained to Rs 20 cr.
