E Invoice Limit 5 Crore Notification - Description
Dear readers, here we are offering E Invoice Limit 5 Crore Notification PDF to all of you. Companies with a turnover of more than five crore rupees will have to issue e-invoices from August 1. As per the new update, from 1st August 2023, all registered businesses whose annual turnover (on the basis of PAN) exceeds 5 crores in any of the previous financial years from 2017-18, will mandatorily generate e-invoices.
Companies with a turnover of more than five crore rupees will have to issue electronic or e-invoice (challan) for B2B transactions from August 1. As of now, units with a turnover of Rs 10 crore or more have to generate e-invoices for B2B transactions. According to a notification issued by the Finance Ministry on May 10, the limit for the generation of e-invoices for B2B transactions has been reduced from Rs 10 crore to Rs 5 crore.
The rule of GST invoices is changing for companies with turnover of more than five crores. According to the data available on the GSTN portal till May 11, 45 lakh traders across the country and more than three lakh traders in Uttar Pradesh have come under online monitoring due to the reduction in the business limit for the generation of e-invoices.
E-Invoice Limit 5 Crore Notification PDF Overview
Here’s an overview of e-invoicing implementation in India until the sixth phase-
Date of applicability
|1||500Cr||1st October 2020|
|2||100 Cr||1st January 2021|
|3||50 Cr||1st April 2021|
|4||20 Cr||1st April 2022|
|5||10 Cr||1st October 2022|
|6||5 Cr||1st August 2023|
The e-invoicing scope excludes the below documents, transactions and businesses-
|1.||Exempted sales for which the bill of supply is raised,|
|5.||Banks, financial institutions, and insurance companies|
|6.||Exhibiting cinematographic films on multiplex screens|
|7.||Non-banking financial companies,|
|8.||Goods transportation and passenger transportation agencies,|
|9.||Units in SEZ or special economic zones, and|
You can download E Invoice Limit 5 Crore Notification PDF by clicking on the following download button.