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GST Update: E-invoice applicable for businesses with turnover exceeding INR 50 crore from April 1, 2021

March 9, 2021

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Central Board of Indirect Taxes and Customs (CBIC) issued Notification No. 05/2021-Central Tax dated March 8, 2021 to implement e-invoicing for taxpayers having aggregate turnover exceeding INR 50 Crore in any of the previous financial year beginning from FY 2017-18, with effect from 01st April 2021.

At present, e-invoicing has been made mandatory for businesses with turnover more than INR 100 crore from January 1, 2021, while for companies with turnover exceeding INR 500 crore was made effective from October 1, 2020.

This is will bring more businesses within the ambit of e-invoice.

Copy of the notification is attached for your reference.

Trust the update is useful.


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