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May 13, 2023E-Invoicing Limit reduced from 10 cr to 5 cr from 01.08.2023
As per Notification No. 10/2023, Central Tax dated 10.05.2023, the taxpayer must comply with e invoicing from 01st August 2023 and onwards if their turnover exceeds Rs. 5 crore in any financial year from 2017-18 to 2022-23.
Also, the aggregate turnover will include the turnover of all GSTIN under a single PAN across India.
Kindly update your systems accordingly because Non issuance of e invoice is an offence under GST and thus attracts penal provisions. Below are some of the penalties:
- Penalty for Non issuance – 100% of Tax Due or Rs.10,000/- whichever is higher.
- Penalty for Incorrect Invoicing – Rs. 25,000/-
