With GST e-invoicing being made applicable from tomorrow, Central Board of Indirect Taxes and Customs (CBIC) today has issued Notification No. 70/2020- Central tax dated 30th September, 2020 by which amendment has been made in Notification No. 13/2020 Central Tax, dated the 21st March, 2020 to the effect that that the GST E-invoicing will be applicable if the turnover of such taxpayer is more than 500 crores in any of the last three Financial Years. Earlier the words used were ‘a financial year’.
The CBIC vide aforesaid Notification has also amended notification No. 13/2020 Central Tax, dated the 21st March, 2020 to make GST E-Invoicing applicable for Export Invoices as well.
It may be noted here that the Notification No. 13/2020 Central Tax, dated the 21st March, 2020, seeks to exempt certain classes of registered persons from issuing e-invoices and the date for implementation of e-invoicing extended to October 1, 2020.
The Notification No. 13/2020 Central Tax, dated the 21st March, 2020 notified that the registered person, other than those referred to in sub-rules (2), (3), (4) and (4A) of rule 54 of the CGST rules, whose aggregate turnover in a financial year exceeds one hundred crore rupees, as a class of registered person who shall prepare an invoice and other prescribed documents, in terms of sub-rule (4) of rule 48 of the rules in respect of supply of goods or services or both to a registered person.
It is important to note here that Notification No. 13/2020 Central Tax, dated the 21st March, 2020 was earlier amended vide Notification No. 61/2020 Central Tax dated 30th July, 2020 SEZ Units were excluded from requirement of GST e-invoicing and the turnover limit was hiked from Rs 100 crore to Rs 500 crore.
Vide Notification No. 70/2020- Central tax dated 30.09.2020, in the Notification No. 13/2020 Central Tax, dated the 21st March, 2020, in the first paragraph for the words “a financial year”, the words and figures “any preceding financial year from 2017-18 onwards” has been substituted. Further in the notification, after the words “goods or services or both to a registered person”, the words “or for exports” has been inserted.
Also Read: 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.
