The Central Board of Indirect Taxes and Customs ( CBIC ) has deferred the facility of Dynamic Quick Response Code on B2C invoices i.e invoices in respect of supplies by a GST registered person to a unregistered person, to 1st December, 2020 vide Notification No. 71/ 2020- Central Tax dated 30th September, 2020.
It may be noted here that as per Notification No. 14/ 2020- Central Tax dated 21st March, 2020 in cases where the aggregate turnover of a supplier in a financial year exceeds Rs 500 crore, he shall be required to have a dynamic QR code displayed on B2C invoices raised by him.
Further where the supplier makes a dynamic QR code available through a digital display, such B2C invoice issued by such registered person containing cross-reference of the payment using dynamic QR Code , shall be deemed to be having QR Code.
Further certain class of registered persons (insurance company, banking company, financial institution, non-banking financial institution, GTA, passenger transportation service, etc.) are exempted from issuing e-invoices or capturing dynamic QR code.
The above requirement was required to be fulfilled from 1st October, 2020 vide Notification No. 14/ 2020- Central Tax dated 21st March, 2020 which has now been deferred to 1st December, 2020 vide Notification No. 71/ 2020- Central Tax dated 30th September, 2020.
Another change has been made by Notification Notification No. 71/ 2020- Central Tax dated 30th September, 2020 is that the requirement of dynamic QR Codes on B2C invoices will be applicable to the suppliers having aggregate turnover exceeding Rs 500 Cr. in any of the preceding financial year from FY 2017-18. Earlier the words used were ‘ in a financial year’ and thus e-invoicing was applicable only if aggregate turnover was in excess of Rs 500 Cr in the previous financial year.
It may be noted that GST e-invoicing in regard to B2B invoices has also been relaxed till 1st November,2020 and similar amendment as regard to previous financial years has been made therein. For details Click here
Also Read:
GST e-invoicing: Differences between B2B-invoice QR Code and B2C Dynamic QR Code
GST E-invoicing: Answers to 10 FAQs you should know
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Frah Saeed is a law graduate specializing in the core field of indirect taxes and is the Co-founder of taxwallah.com. She has authored many publications on GST and is into full-time consultancy on GST to big corporates. She as a part of taxwallah.com heads a team comprising of Chartered Accountants and Advocates and plays a key role in our mission to disseminate GST knowledge to all.
