- From August 1, 2023, taxpayers with an aggregate turnover of more than INR 5 Crores in any preceding Financial Year must issue e-invoice/e-debit note/e-credit note for their B2B supplies and exports.
- Failure to issue an e-invoice can result in the non-eligibility of Input Tax Credit at the customer’s end. Taxpayers should ensure that their vendors falling within the e-invoice net are issuing e-invoices.
- This is in accordance with Rule 48(5) of the Central Goods and Services Tax Rules, 2017 and Notification No. 10/2023-Central Tax dated May 10, 2023.
Source Gaba & Co
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