Updated: Jan 5, 2022
The Central Board of Indirect Taxes and Customs made E-invoicing under the Goods and Service Tax regime mandatory for all the registered taxpayers, having an aggregate turnover of Rs. 50 Crore or more during the previous year, with effect from April 01, 2021, for all B2B (Business to Business) transactions through notification No. 05/2021–Central Tax dated March 08, 2021.
CBIC has made E-invoicing implementation through various phases till now as follows:
1. E-invoicing has been made applicable from October 01, 2020, for all taxpayers having aggregate turnover exceeding Rs. 500 crores from any of the preceding financial years from 2017-18 to 2019-20 as per Notification No. 61/2020 - Central Tax.
2. With effect from January 01, 2021, E-invoicing has been made applicable for all taxpayers having aggregate turnover exceeding Rs. 100 crores from any of the preceding financial years from 2017-18 to 2019-20 as per Notification No. 88/2020 - Central Tax.
Now, this is the third phase in which the Central Government of India has made the E-invoicing mechanism mandatory for the business entities with the turnover exceeding Rs. 50 crores with effect from 1st April 2021.
However, irrespective of the turnover, e-Invoicing shall not be applicable to the following categories of registered persons, as notified in CBIC Notification No.13/2020 – Central Tax:
An insurer or a banking company or a financial institution, including an NBFC
A Goods Transport Agency (GTA)
A registered person supplying passenger transportation services
A registered person supplying services by way of admission to the exhibition of cinematographic films in multiplex services
An SEZ unit (excluded via CBIC Notification No. 61/2020 – Central Tax)
Read the Notification...
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS)
New Delhi, the 8th March, 2021
No. 05/2021–Central Tax
G.S.R. 160(E).—In exercise of the powers conferred by sub-rule (4) of rule 48 of the Central Goods and Services Tax Rules, 2017, the Government, on the recommendations of the Council, hereby makes the following further amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 13/2020 – Central Tax, dated the 21st March, 2020, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 196(E), dated 21st March, 2020, namely:-
In the said notification, in the first paragraph, with effect from the 1st day of April, 2021, for the words “one hundred crore rupees”, the words “fifty crore rupees” shall be substituted.
[F. No. CBEC-20/13/01/2019-GST]
PRAMOD KUMAR, Director
Note: The principal notification No. 13/2020–Central Tax, dated the 21st March, 2020 was published in the Gazette of India, Extraordinary, vide number G.S.R. 196(E), dated 21st March, 2020 and was last amended vide notification No. 88/2020-Central Tax, dated the 10th November, 2020, published vide number G.S.R. 704(E), dated the 10th November, 2020.