GST E invoicing Limit reduced to 5 Cr from 1st Aug 2023 Notification No. 10/2023-Central Tax Dated: 10th May 2023 related to Central Goods and Service
GST E invoicing Limit reduced to 5 Cr from 1st Aug 2023
Notification No. 10/2023-Central Tax Dated: 10th May 2023 related to Central Goods and Services Tax Rules, involving a reduction in threshold limit for GST E-Invoicing from 10 crore rupees to 5 crore rupees, effective from August 1, 2023.
An earlier registered person whose turnover exceeds Rs. 10 crore is required to comply with the e-invoice provision which means he must generate an e-invoice against each tax invoice, debit note, and credit note issued to the registered person.
Now on 10th May’2023 Ministry of Finance by Notification No. 10/2023 central tax has notified that a person registered under GST and having turnover more than Rs. 5 Crore in any financial year from 2017 – 18 is required to comply with the e-invoice provisions w.e.f. 01st August 2023 i.e., he will be required to generate IRN/e-invoice against the followings: –
However, e-invoice shall not be applicable to the following types of registered persons as notified by CBIC by Notification no. 13/2020 – Central tax amended from time to time.
Notification No. 10/2023 – Central Tax Dated: 10th May 2023
G.S.R. 355(E).—In exercise of the powers conferred by sub-rule (4) of rule 48 of the Central Goods and Services Tax Rules, 2017, the Government, on the recommendations of the Council, hereby makes the following further amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 13/2020 – Central Tax, dated the 21st March 2020, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 196(E), dated 21st March 2020, namely:-
In the said notification, in the first paragraph, with effect from the 1st day of August 2023, for the words “ten crore rupees”, the words “five crore rupees” shall be substituted.
[F. No. CBIC- 20021/1/2023-GST]
ALOK KUMAR, Director
Note: The principal notification No. 13/2020 – Central Tax, dated the 21st March 2020 was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 196(E), dated the 21st March 2020 and was last amended vide notification No. 17/2022-Central Tax, dated the 1st August 2022, published vide number G.S.R. 612(E), dated the 1st August 2022.
Notification can be read at https://egazette.nic.in/WriteReadData/2023/245793.pdf
An earlier registered person whose turnover exceeds Rs. 10 crore is required to comply with the e-invoice provision which means he must generate an e-invoice against each tax invoice, debit note, and credit note issued to the registered person.
Now on 10th May’2023 Ministry of Finance by Notification No. 10/2023 central tax has notified that a person registered under GST and having turnover more than Rs. 5 Crore in any financial year from 2017 – 18 is required to comply with the e-invoice provisions w.e.f. 01st August 2023 i.e., he will be required to generate IRN/e-invoice against the followings: –
- Each tax invoice, debit note & credit note is issued to the registered person.
- Export Transactions
However, e-invoice shall not be applicable to the following types of registered persons as notified by CBIC by Notification no. 13/2020 – Central tax amended from time to time.
- Insurance Company
- Banking Companies or Financial Institutions
- SEZ Units
- Government Department and Local Authorities
- Goods Transport Agency.
Ministry Of Finance
(Department Of Revenue)
(Central Board of Indirect Taxes And Customs)
New Delhi
Notification No. 10/2023 – Central Tax Dated: 10th May 2023
G.S.R. 355(E).—In exercise of the powers conferred by sub-rule (4) of rule 48 of the Central Goods and Services Tax Rules, 2017, the Government, on the recommendations of the Council, hereby makes the following further amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 13/2020 – Central Tax, dated the 21st March 2020, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 196(E), dated 21st March 2020, namely:-
In the said notification, in the first paragraph, with effect from the 1st day of August 2023, for the words “ten crore rupees”, the words “five crore rupees” shall be substituted.
[F. No. CBIC- 20021/1/2023-GST]
ALOK KUMAR, Director
Note: The principal notification No. 13/2020 – Central Tax, dated the 21st March 2020 was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 196(E), dated the 21st March 2020 and was last amended vide notification No. 17/2022-Central Tax, dated the 1st August 2022, published vide number G.S.R. 612(E), dated the 1st August 2022.
Notification can be read at https://egazette.nic.in/WriteReadData/2023/245793.pdf
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