A quick referencer to E-invoice applicability under GST

 

Central Board of Indirect Taxes and Customs (CBIC) has further reduced the threshold limit for generation of E-invoices vide Notification no. 17/2022-Central tax dated 1st August, 2022.

 

The table below summarises the various notifications issued by the department about the turnover limit for E-invoice applicability.

Sl.No.	Notification No.	Applicable Date	Aggregate turnover exceeding
1	61/2020 – Central Tax and 70/2020 – Central Tax	1-10-2020	500 Crores
2	88/2020 – Central Tax	01-01-2021	100 Crores
3	5/2021 – Central Tax	01-04-2021	50 Crores
4	1/2022 – Central Tax	01-04-2022	20 Crores
5	17/2022 – Central Tax	01-10-2022	10 Crores

 

Ø Aggregate turnover has to be calculated for each of the financial years starting from FY 2017-18.

Ø PAN-based aggregate turnover shall be considered for computing aggregate turnover.

Ø ‘Aggregate turnover’ means the aggregate value of

a)     all taxable supplies

b)    non-taxable supplies

c)     exempt supplies,

d)    exports of goods or services or both

e)     Inter-State supplies of persons having the same Permanent Account Number.

 

✍

CA Ramakrishna Sanjay