The recently released advisory states – For taxpayers with AATO higher than or equal to 100 crores, the Government has decided to impose a time limit on submitting old invoices on the e-invoice IRP portals. Taxpayers in this category will not be allowed to report invoices older than 7 days on the date of reporting.

This restriction will apply to the all-document types for which IRN is to be generated. Thus, once issued, the credit / Debit note will also have to be reported within 7 days of issue.

The 7-day e-invoice generation limit has further intensified the need for a 100% automated reconciliation of GST data. An account of a minor mismatch, manual error or process lapse can put you on an arduous journey of going through vast piles of invoices.

Register to our LIVE Webinar and learn how you can tackle all the present and future compliance issues seamlessly!