Key amendments in e-invoicing requirements under the GST law
by ReinHeads Team | Oct 1, 2020
Key amendments in e-invoicing requirements under GST law
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| Dear All,
This is to update you that the Government has issued Notifications and a Press release with respect to implementation of E-invoicing system in the GST regime on 30 September 2020. The key aspects of the same are summarized as under:
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Notification no.
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Key aspects
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| 71/2020 – Central Tax dated 30 September 2020 read with Notification No. 14/2020 dated 21 March 2020 |
· The Notification mandates entities with aggregate turnover > INR 500 crores in any Financial year from 2017-18 onwards to include QR code on the issuance of E-invoice to unregistered person
· Date of applicability of E-invoice in case of issuance of invoice by a notified person to unregistered person is now being extended from 1 October 2020 to 1 December 2020 |
| Press Release dated 30 September 2020 |
· The invoices issued by notified taxpayers/ notified person during October 2020 without following the Rule 48(4) of the CGST Rules 2017 (i.e., issuance of E-invoice), shall be deemed to be valid provided the Invoice Reference Number (‘IRN’) for such invoices is obtained from the Invoice Reference Portal (‘IRP’) within 30 days of date of invoice
· Further, where IRN has been obtained from IRP portal within 30 days of date of invoice, the penalty leviable for such non-adherence under section 122 of the CGST Act 2017 shall stand waived. Further, no such relaxation would be available for the invoices issued from 1 November 2020 |
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