Implementation of E-Invoicing for Taxpayers with Aggregate Turnover Exceeding Rs. 5 Cr from August 1st, 2023

The Central Goods and Services Tax Rules, 2017 allow for amendments to be made regarding the implementation of e-invoicing for taxpayers. In line with this, the Government, based on the recommendations of the Council, has made a further amendment to the notification issued by the Government of India in the Ministry of Finance (Department of Revenue), No. 13/2020 – Central Tax, dated 21st March 2020.

According to the amended notification, starting from the 1st day of August 2023, taxpayers with an aggregate turnover exceeding Rs. 5 crore are required to implement e-invoicing. This amendment substitutes the previous threshold of "ten crore rupees" with "five crore rupees."

The aim of this amendment is to promote the adoption of e-invoicing and streamline the invoicing process for taxpayers with a higher aggregate turnover. By implementing e-invoicing, businesses can enhance efficiency, reduce errors, and improve compliance with tax regulations.

For more detailed information on this amendment, you can refer to the official notification, No. 10/2023-Central Tax, dated 10th May 2023.

By introducing e-invoicing for eligible taxpayers, this amendment strives to modernize and simplify the invoicing system, ultimately benefiting businesses and promoting a more streamlined and digitized tax ecosystem.

Download Notification: No. 10/2023-Central Tax, dated 10th May 2023.