Who is covered under e-invoicing from 01 Oct 2022?

All about e-invoice applicability from 01.10.2022.

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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 Notification No.13/2020 - CT, current threshold limit for e-invoice applicability is Rs. 20 Crores. However this limit has been reduced to Rs. 10 Crores w.e.f. 01st Oct 2022 vide Notification No.17/2022 - CT.

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 2017-18, then e-invoice will become applicable. 

Please note that law states preceding financial year, that means current financial year turnover is not to be considered. 

Q) Can an e-invoice be cancelled or modified?

An e-invoice cannot be modified directly. However it can be cancelled within 24 hours of the generation of the IRN.

Post completion of 24 hours, the supplier can issue either a debit note or credit note or edit Form GSTR-1 modifying the respective invoice details.

Cancellation of IRN is not possible in case the e-way bill is already generated / active for the respective IRN.

Once the e-invoice (IRN) is cancelled, the same invoice number cannot be re-used to generate another IRN.

Partial cancellation of e-invoice (i.e., IRN) is not possible. Full e-invoice has to be cancelled.

Q) Whether all entities are required to generate e-invoicing?

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E-invoice

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