E-invoicing mandatory for companies with turnover of Rs. 20 Cr. or more| GST Notification 01/2022

GST Notification 01/2022-Central Tax ,dt. 24-02-2022

E-invoicing for Rs 20 Cr+ Turnover companies

The E-invoicing mandate has been extended for taxpayers with an annual turnover of Rs. 20 Cr. or more. It has now been made mandatory for registered taxpayers with annual turnover of 20 Cr. or more in any FY from 2017-18 onwards with effect from 1st April 1, 2022 onwards as per GST Notification 1/2022 – Central Tax.

Exclusion of SEZ units (but not SEZ developers) and certain classes of taxpayers such as banks & financial institutions, GTA, etc. shall continue.

The Notification does not apply to B2C transactions – only registered persons having turnover in excess of ₹500 crores are required to generate dynamic QR code. We are conducting a free webinar on E-Invoicing. Register here for the same: E-Invoicing Webinar

Mandeep Kulkarni

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