Applicability of e-invoicing and other important provisions

Applicability of e-invoicing and other important  provisions

The applicability of E-invoicing and other important provisions are summarised below:

As per NOTIFICATION No. 17/2022–Central Tax, dated 1st August, 2022,
From 1st October 2022, GST Taxpayers whose aggregate turnover exceeds Rs. 10 crore in any Financial Year* are required to generate E-invoice for B2B Supply of Goods or Services or Both, or for Exports.

The following categories of GST registered persons are exempt from generating the E-invoice, irrespective of the turnover limit:

  • an Insurer, Banking Company, Financial Institution including an NBFC
  • A Goods Transport Agency (GTA)
  • Person supplying Passenger Transportation services
  • Person supplying services by way of admission to the exhibition of cinematographic films in multiplex services
  • SEZ unit, Government Department and Local Authority.

Important Note:

Such Exempt categories of persons are required to make a Declaration** on the invoice that they are having turnover above the limit notified under Rule 48(4), but not issuing an E-invoice as it is not required to be issued by them.

*Any Financial Year means any preceding Financial Year from 2017-18 onwards.

**Rule 46(s): A declaration as below,
“I/We hereby declare that though our aggregate turnover in any preceding financial year from 2017-18 onwards is more than the aggregate turnover notified under sub-rule (4) of rule 48, we are not required to prepare an invoice in terms of the provisions of the said sub-rule.”]

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CA Gaganmeet Singh

Partner at Seth Anil Kumar & Associates LLP | DISA | M. com | B. com (H) | ICAI Certifications: FAFD and Concurrent Audit |