E-Invoicing for registered persons having turnover exceeding Rs 500 crores w.e.f 01st October 2020
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E-Invoicing for registered persons having turnover exceeding Rs 500 crores The CBIC vide Notification No. 61/2020–Central Tax * dt 30th July 2020 has amended Notification no 13/2020 dt 21st March 2020, and revised turnover limit for applicability of e-invoicing. As per the notification e-invoicing shall be applicable in case of registered person having aggregate turnover exceeding Rs 500 crores in a financial year, with effect from 1st October 2020. Earlier turnover limit prescribed was Rs 100 crore in a financial year. * Update as on 08/03/2021: Turnover limit revised for E-invoice w.e.f 01/04/2021 https://www.udyamica.com/2020/11/e-invoicing-for-registered-persons-having-turnover-exceeding-Rs-50-Crore.html Notification also provides that, e invoicing will not be applicable to Special Economic Unit. As per earlier notification following were excluded from applicability of e-invoice: Insurance company, banking company, financial institution, non-banking financial institution Goods t