08 June 2023
One Tax payer is eligible for e-Invoicing in the FY-2020-21 and generated the e-Invoices. Gradually his Turnover decreased and his Turnover in the previous year i.e. in 2022-23 is only 1 Crore INR. Is it mandatory to generate e-Invoice for this Tax payer in the FY 2023-24?? Please provide the details.
08 June 2023
Yes, it's mandatory to generate E invoice in such a case. CBIC extended e-invoicing to taxpayers whose turnover is more than Rs 5 cr in any financial year from 2017-18. Hence, these taxpayers shall issue e-invoices w.e.f 1st August 2023.
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