{"id":4769,"date":"2022-08-04T16:32:58","date_gmt":"2022-08-04T16:32:58","guid":{"rendered":"https:\/\/www.caindelhiindia.com\/blog\/?p=4769"},"modified":"2024-12-03T13:03:22","modified_gmt":"2024-12-03T13:03:22","slug":"gst-e-invoices-limit-dropped-to-rs-10-cr-wef-1st-oct-2022","status":"publish","type":"post","link":"https:\/\/www.caindelhiindia.com\/blog\/gst-e-invoices-limit-dropped-to-rs-10-cr-wef-1st-oct-2022\/","title":{"rendered":"GST E-Invoices Limit dropped from Rs 10 Cr to 5 Cr 1.08.2023"},"content":{"rendered":"<h2><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-4770\" src=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/08\/GST-E-Invoices-Limit-dropped-to-Rs-10-Cr-wef-1st-Oct-2022..jpeg\" alt=\"GST E-Invoices Limit dropped to Rs 10 Cr wef 1st Oct 2022\" width=\"991\" height=\"1020\" srcset=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/08\/GST-E-Invoices-Limit-dropped-to-Rs-10-Cr-wef-1st-Oct-2022..jpeg 792w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/08\/GST-E-Invoices-Limit-dropped-to-Rs-10-Cr-wef-1st-Oct-2022.-292x300.jpeg 292w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/08\/GST-E-Invoices-Limit-dropped-to-Rs-10-Cr-wef-1st-Oct-2022.-768x790.jpeg 768w\" sizes=\"(max-width: 991px) 100vw, 991px\" \/><\/h2>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_58 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69dc7aa36df62\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69dc7aa36df62\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.caindelhiindia.com\/blog\/gst-e-invoices-limit-dropped-to-rs-10-cr-wef-1st-oct-2022\/#Limit_for_GST_E-Invoices_for_Firms_dropped_to_Rs_10_crore_Sales_as_of_Oct_1_2022\" title=\"Limit for GST E-Invoices for Firms dropped to Rs 10 crore Sales as of Oct. 1, 2022\">Limit for GST E-Invoices for Firms dropped to Rs 10 crore Sales as of Oct. 1, 2022<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.caindelhiindia.com\/blog\/gst-e-invoices-limit-dropped-to-rs-10-cr-wef-1st-oct-2022\/#Some_brief_about_E-Invoicing\" title=\"Some brief about E-Invoicing:\">Some brief about E-Invoicing:<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.caindelhiindia.com\/blog\/gst-e-invoices-limit-dropped-to-rs-10-cr-wef-1st-oct-2022\/#Reasons_Behind_the_continuous_drop_in_Threshold_limit_of_the_company_for_E-Invoicing\" title=\"Reasons Behind the continuous drop in Threshold limit of the company for E-Invoicing:\">Reasons Behind the continuous drop in Threshold limit of the company for E-Invoicing:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.caindelhiindia.com\/blog\/gst-e-invoices-limit-dropped-to-rs-10-cr-wef-1st-oct-2022\/#Compulsory_E-Invoicing_for_businesses_having_a_Turnover_of_10_Cr_or_more_from_1st_Oct_2022\" title=\"Compulsory E-Invoicing for businesses having a Turnover of 10 Cr or more from 1st Oct. 2022\">Compulsory E-Invoicing for businesses having a Turnover of 10 Cr or more from 1st Oct. 2022<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.caindelhiindia.com\/blog\/gst-e-invoices-limit-dropped-to-rs-10-cr-wef-1st-oct-2022\/#Compulsory_E-Invoicing_for_businesses_having_a_Turnover_of_5_Cr_or_more_from_1st_Oct_2022\" title=\"Compulsory E-Invoicing for businesses having a Turnover of\u00a0 5 Cr or more from 1st Oct. 2022\">Compulsory E-Invoicing for businesses having a Turnover of\u00a0 5 Cr or more from 1st Oct. 2022<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.caindelhiindia.com\/blog\/gst-e-invoices-limit-dropped-to-rs-10-cr-wef-1st-oct-2022\/#Form_1st_April_2025_taxpayers_with_an_AATO_of_10_crores_and_above_would_not_be_allowed_to_report_e-Invoices_older_than_30_days\" title=\"Form 1st April 2025, taxpayers with an AATO of 10 crores and above would not be allowed to report e-Invoices older than 30 days\">Form 1st April 2025, taxpayers with an AATO of 10 crores and above would not be allowed to report e-Invoices older than 30 days<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.caindelhiindia.com\/blog\/gst-e-invoices-limit-dropped-to-rs-10-cr-wef-1st-oct-2022\/#Authorised_e-Invoice_Verification_Apps_GSTN_Advisory\" title=\"Authorised e-Invoice Verification Apps :\u00a0GSTN Advisory\">Authorised e-Invoice Verification Apps :\u00a0GSTN Advisory<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.caindelhiindia.com\/blog\/gst-e-invoices-limit-dropped-to-rs-10-cr-wef-1st-oct-2022\/#GSTNs_advisory_on_E-Invoice_Glossary_and_Step\" title=\"GSTN\u2019s advisory on E-Invoice Glossary and Step\">GSTN\u2019s advisory on E-Invoice Glossary and Step<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Limit_for_GST_E-Invoices_for_Firms_dropped_to_Rs_10_crore_Sales_as_of_Oct_1_2022\"><\/span><span style=\"color: #000080;\"><strong><u>Limit for GST E-Invoices for Firms dropped to Rs 10 crore Sales as of Oct. 1, 2022<\/u><\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Every registered Businesses who has an annual turnover more than Rs. 10 Crores it is required to send an electronic invoice as of October 1, 2022. Presently for e-invoice is mandatory for the firms with yearly turnover of Rs. 20 Crores but the rule is amended on 1st of August 2022. From 1st of October 2022 the business is required to issue an E-Invoice must upload a json file containing their tax invoice in (IRP) Invoice Registration Portal in accordance with the E-Invoice schema in INV-01. They must then wait for the IRP to get back a digitally signed json file along with an IRN and QR Code.<\/p>\n<p>All B2B invoices are electronically validated by the Goods and Service Tax Network (GSTN) under the newly adopted electronic invoicing (e-invoicing) system under GST. The creation of invoices via the GST site is not what e-invoicing is about. This is incorrect. Each dealer must produce invoices using his generally accepted accounting software.<\/p>\n<p>E-invoicing is actually the process of uploading information from a previously created invoice to the GST portal and creating an IRN (Invoice Reference Number) for that invoice. E-invoicing is based on the premise that invoices should only be registered once on the GST site so that it can be utilised for several different things.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Some_brief_about_E-Invoicing\"><\/span><span style=\"color: #000080;\"><strong><u>Some brief about E-Invoicing:<\/u><\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li>Electronic Invoice is introduced in the 37th meeting of the GST Council held on 20th September 2019.<\/li>\n<li>When E-invoicing was introduced, it was only applicable on the firms with annual turnover of Rs. 500 crores.<\/li>\n<li>After while it was dropped to 100 crores, then 20 crore and currently it comes to 10 crore.<\/li>\n<li>Officials and Experts says that may be the annual turnover may drop to 5 crores in the coming year.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Reasons_Behind_the_continuous_drop_in_Threshold_limit_of_the_company_for_E-Invoicing\"><\/span><strong><u>Reasons Behind the continuous drop in Threshold limit of the company for E-Invoicing:<\/u><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>The higher tax authorities are getting easy in investigating the authenticity of Input Tax Credit in different sectors and find the revenue leakage.<\/li>\n<li>Tax admiration declares that Rs 35000 crore of ITC fraud, alone in the last fiscal year 2020-21 in which fake Invoice racket had arrested.<\/li>\n<li>This reduction in the threshold of the Business which increases the scope of the E-Invoicing the main motive behind this is Tax manipulation.<\/li>\n<li>The GST council has given the sufficient time gap i.e. 31st of October, so that all the companies can prepare their administration and systems to accept the E-Invoicing compliances.<\/li>\n<\/ul>\n<p><strong><span style=\"color: #000080;\">In summary\u00a0<\/span><\/strong><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Compulsory_E-Invoicing_for_businesses_having_a_Turnover_of_10_Cr_or_more_from_1st_Oct_2022\"><\/span><span style=\"color: #000080;\">Compulsory E-Invoicing for businesses having a Turnover of 10 Cr or more from 1st Oct. 2022<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>The Goods and Service Tax (&#8220;GST&#8221;) has long been considering electronic invoices, or &#8220;E-invoicing,&#8221; and the GST Council has chosen to implement the e-invoicing \u2018 device beginning on January 1, 2020, on a voluntary basis.<\/li>\n<li>However, commencing on October 1, 2020, taxpayers with a turnover of more than 500 crore will be required to generate mandatory e-invoices under the GST. From April 1, 2021, taxpayers with a turnover of 10 crore will also be required to do so. E-invoicing will be required starting on October 1, 2022, for companies with a turnover of 10 crores or more in any financial year commencing in 2017\u201318.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Compulsory_E-Invoicing_for_businesses_having_a_Turnover_of_5_Cr_or_more_from_1st_Oct_2022\"><\/span><span style=\"color: #000080;\">Compulsory E-Invoicing for businesses having a Turnover of\u00a0 5 Cr or more from 1st Oct. 2022<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-5679\" src=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/08\/Fv2NDvqaAAA74T-.jpeg\" alt=\"GST E-Invoices Limit dropped from Rs. 10 Cr to 5 Cr 1st Aug 2023\" width=\"1005\" height=\"572\" srcset=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/08\/Fv2NDvqaAAA74T-.jpeg 680w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/08\/Fv2NDvqaAAA74T--300x171.jpeg 300w\" sizes=\"(max-width: 1005px) 100vw, 1005px\" \/><\/p>\n<ul>\n<li>The government has decided to reduce the e-invoice limit from Rs. 10 Crores to Rs. 5 Crores from 1st August 2023. This means that any taxpayer who has an aggregate turnover exceeding Rs. 5 Crores in any financial year from 2017-18 to 2022-23 will be required to generate e-invoices from 1st August 2023 onwards. In simpler terms, businesses with turnover above Rs. 5 Crores will be required to generate electronic invoices for their transactions. This move is aimed at promoting digital transactions and reducing the scope for tax evasion.<\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-5865\" src=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/08\/app..jpg\" alt=\"e-invoicing GST App\" width=\"995\" height=\"1379\" srcset=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/08\/app..jpg 773w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/08\/app.-217x300.jpg 217w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/08\/app.-739x1024.jpg 739w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/08\/app.-768x1064.jpg 768w\" sizes=\"(max-width: 995px) 100vw, 995px\" \/><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Form_1st_April_2025_taxpayers_with_an_AATO_of_10_crores_and_above_would_not_be_allowed_to_report_e-Invoices_older_than_30_days\"><\/span><a href=\"https:\/\/carajput.com\/archives\/taxpayers-with-an-aato-of-10-crores-and-above-would-not-be-allowed.pdf\"><span style=\"color: #000080;\"><strong>Form 1st April 2025, taxpayers with an AATO of 10 crores and above would not be allowed to report e-Invoices older than 30 days<\/strong><\/span><\/a><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<h3><span class=\"ez-toc-section\" id=\"Authorised_e-Invoice_Verification_Apps_GSTN_Advisory\"><\/span><span style=\"color: #000080;\">Authorised e-Invoice Verification Apps :\u00a0GSTN Advisory<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<h3><span class=\"ez-toc-section\" id=\"GSTNs_advisory_on_E-Invoice_Glossary_and_Step\"><\/span><a href=\"https:\/\/carajput.com\/archives\/e-invoice-glossary-and-step-by-step-guide-gstn-s-advisory.pdf\"><span class=\"field field--name-title field--type-string field--label-hidden\">GSTN\u2019s advisory on E-Invoice Glossary and Step<\/span><\/a><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-8224\" src=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/08\/e_invoice_overview_page-0001.jpg\" alt=\"GSTN\u2019s advisory on E-Invoice Glossary and Step\" width=\"1755\" height=\"1241\" srcset=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/08\/e_invoice_overview_page-0001.jpg 1755w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/08\/e_invoice_overview_page-0001-300x212.jpg 300w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/08\/e_invoice_overview_page-0001-1024x724.jpg 1024w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/08\/e_invoice_overview_page-0001-768x543.jpg 768w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/08\/e_invoice_overview_page-0001-1536x1086.jpg 1536w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/08\/e_invoice_overview_page-0001-800x566.jpg 800w\" sizes=\"(max-width: 1755px) 100vw, 1755px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Limit for GST E-Invoices for Firms dropped to Rs 10 crore Sales as of Oct. 1, 2022 Every registered Businesses who has an annual turnover more than Rs. 10 Crores it is required to send an electronic invoice as of October 1, 2022. Presently for e-invoice is mandatory for the firms with yearly turnover of &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[144],"tags":[931],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/4769"}],"collection":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/comments?post=4769"}],"version-history":[{"count":5,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/4769\/revisions"}],"predecessor-version":[{"id":8207,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/4769\/revisions\/8207"}],"wp:attachment":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/media?parent=4769"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/categories?post=4769"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/tags?post=4769"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}