- New rules for E-invoicing applicability in India have been announced, with a reduced threshold limit of 5 crores from August 2023.
- If a registered person’s aggregate turnover in any preceding financial year from 2017-18 onwards exceeds 5 crores, E-invoicing is mandatory.
- Aggregate turnover includes all taxable, exempt, and export supplies under the same PAN and is calculated on an all-India basis.
- E-invoicing applies to invoices, debit notes, and credit notes for B2B supplies, SEZ supplies, export supplies, and deemed exports made to registered persons with GSTIN.
- E-invoicing is not required for B2C supplies and exempt supplies.
Source Taxguru
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