As you are aware, E-Invoicing is being implemented from October 1, 2020 for taxpayers having aggregate turnover more than Rs.500 crores. The Government has now mandated E-Invoicing for taxpayers having aggregate turnover more than Rs.500 crores in any Financial Year (FY) from 2017-18 onwards. [Notification No.70/2020-CT dated September 30, 2020]

NITYA Comments: It is surprising that the Government has issued an altogether new criteria (which will make E-Invoicing applicable to more taxpayers) just few hours before go live date. In an earlier FAQ, the Government clarified that turnover of FY 2019-20 will be considered for E-Invoicing and whole industry was preparing accordingly. The affected taxpayers have no option but to comply with E-Invoicing. 

In addition to above, Government has extended requirement to print dynamic QR code on B2C E-Invoices to December 1, 2020. [Notification No.71/2020-CT dated September 30, 2020]

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