E-Invoice under GST for turnover above 500 crore, SEZ excluded

E-invoicing mandatory for registered person having turnover above INR 500 Crore

e-invoice under GST is applicable for assessee’s having turnover in a financial year above Rs. 500 crore with effect from October 1, 2020 and SEZ units are excluded from e-invoicing. Notification No. 61/2020–Central Tax Dated:  30th July, 2020.

Irrespective of the turnover, e-invoicing shall not be applicable to the following categories of registered person:

1. SEZ Unit (Exempted vide Notification No. 61/2020-CT dated 30.07.2020)

2. Insurer or a banking company or a financial institution, including a NBFC;

3. A Goods Transport Agency;

4. A registered person supplying passenger transportation service; and

5. A registered person supplying services by way of admission to the exhibition of cinematograph films in multiplex screens.

Q. What’s new?

A. Previously, the threshold was INR 100 Crore and SEZ unit was not exempt from e-invoicing.

MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS)
New Delhi

Notification No. 61/2020–Central Tax

Dated:  30th July, 2020

G.S.R. 481(E).—In exercise of the powers conferred by sub-rule (4) of rule 48 of the Central Goods and Services Tax Rules, 2017, the Government, on the recommendations of the Council, hereby makes the following amendments in notification of the Government of India in the Ministry of Finance (Department of Revenue), No.13/2020 – Central Tax, dated the 21st March, 2020, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 196(E), dated the 21st March, 2020, namely:–

In the said notification, in the first paragraph,

(i) before the words “those referred to in sub-rules”, the words “a Special Economic Zone unit and” shall be inserted;

(ii) for the words “one hundred crore rupees”, the words “five hundred crore rupees” shall be substituted.