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E-invoice limit reduced to Rs. 5 Crores w.e.f. 01st August 2023

Checkout.. who is covered and who is not?

CBIC vide Notification No.10/2023 - Central Tax dated 10.05.2023 has further reduced the e-invoice limit from Rs. 10 Crore to Rs. 5 Crore w e.f. 01.08.2023.

Q) What is e-invoicing?

As per Rule 48(4) of CGST Rules, notified class of registered persons have to prepare invoice by uploading specified particulars of invoice on Invoice Registration Portal (IRP) and obtain an Invoice Reference Number (IRN).

After following above ‘e-invoicing’ process, the invoice copy containing the IRN (with QR Code) issued by the notified supplier to buyer is commonly referred to as ‘e-invoice’ in GST.

Q) Who is liable for e-invoicing?

Only whose taxpayers whose aggregate turnover exceeds the threshold limit are liable to generate e-invoice.

Q) What is the threshold limit for e-invoicing?

As per recent Notification No.10/2023 - CT, current threshold limit for e-invoice applicability is Rs. 5 Crores.

Q) Which year's turnover is to be checked for e-invoice applicability?

The threshold limit is to be checked for all preceding financial years starting from FY 2017-18. That means, if threshold limit exceeds in any of the Financial Year starting from FY .......
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May 11, 2023

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Whether incentive received on export based import from govt is liable for GST
By: G.ramesh | Dt: May 25, 2023


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GST News (Updates)


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20 Apr

☑ Monthly | GSTR-3B

GSTR-3B for the m/o Mar 2024 (Monthly Taxpayer - Rule 61) - Either Compulsory taxpayer > 5 cr. or Voluntary taxpayer < 5 cr.

☑ Monthly | GSTR-5A

GSTR-5A for the m/o Mar 2024 [Return by OIDAR Service Providers - Rule 64.]

22 Apr

☑ Quarterly | GSTR-3B

GSTR-3B for the Quarter Jan - Mar 2024 (QRMP Taxpayer < 5 Cr - Rule 61) - Category I States.

* State Category I - Chhattisgarh, Madhya Pradesh, Gujarat, Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Telangana or Andhra Pradesh or the Union territories of Daman and Diu and Dadra and Nagar Haveli, Puducherry, Andaman and Nicobar Islands and Lakshadweep.

24 Apr

☑ Quarterly | GSTR-3B

GSTR-3B for the Quarter Jan - Mar 2024 (QRMP Taxpayers < 5 Cr - Rule 61) - Category II States.

* State Category II - Himachal Pradesh, Punjab, Uttarakhand, Haryana, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand or Odisha or the Union territories of Jammu and Kashmir, Ladakh, Chandigarh and Delhi.

25 Apr

☑ Half-Yearly | ITC-04

ITC-04 for the half year (Oct - Mar 2024) (For taxpayers > 5 Cr. Turnover) - Rule 45.

☑ Annual | ITC-04

ITC-04 for the FY 2023-24 (For taxpayers upto 5 Cr. Turnover) - Rule 45.

28 Apr

☑ Monthly | GSTR-11

GSTR-11 for the m/o Mar 2024 (Statement of inward supplies by persons having Unique Identification Number (UIN)).

30 Apr

☑ Annual | GSTR-4

GSTR-4 (Annual Return) for FY 2023-24 by Composite Taxpayer (Rule 62).

☑ Quarterly | QRMP

Last date for opt-in / opt-out QRMP Scheme for quarter Apr - June 2024 (Rule 61A)