Good News for GST Small Taxpayer I Invoice Limit in GST I CA Satbir Singh
As per the recent tweet by the CBIC, started that the Some news reports have appeared in media today suggesting that though GST Council has recommended reducing threshold for generation of e-invoice to Rs.5 cr w.e.f. January 01, 2023, the Government has yet to issue notification in the matter, giving rise to uncertainties amongst the taxpayers.
It is clarified that presently, e-invoicing has been made mandatory for registered persons having aggregate turnover more than Rs. 10 crore in any preceding financial year from 2017-18 onwards (Refer Notification no. 17/2022-Central Tax dated August 01, 2022).
There is no proposal before the Government, at present, to reduce this threshold limit to Rs 5 Crore with effect from January 01, 2023, as no such recommendation has been made by GST Council as yet.