Regulatory updates - India
Get the latest news and updates on e-invoicing, e-ordering, e-archiving and indirect tax regulatory requirements.
Mandatory e-invoicing threshold halved in India from 1 August 2023
On 10 May 2023, the Indian Ministry of Finance issued Notification No. 10/2023, which reduces the threshold limit for complying with the GST e-invoicing system from INR 10 to 5 crores.
7-day timeline for reporting invoices via IRP Portal
The Indian GSTN imposes a 7-day time limit on reporting invoices through the IRP portal for taxpayers with a certain minimum annual turnover amount.
E-invoicing obligation scope might be further extended by CBIC
The Indian Central Board of Indirect Taxes (CBIC) has expressed interest in further lowering the e-invoicing mandate threshold. If the CBIC decides to implement this change, e-invoicing will be mandatory for all taxpayers with revenues exceeding INR 5 crores (ca. EUR 624 000) as of 1 January 2023.
Indian GST Council considers introducing new invoice registration portals
The Indian Goods and Service Tax (GST) Council gathered in late June to discuss introducing five new IRPs. The objective of this step was to address the scaling of invoices received and expand the scope of entities to issue electronic invoices.
India further extends the scope of the e-invoicing mandate
The Indian Central Board of Indirect Taxes (CBIC) announced a change to the e-invoicing mandate threshold. As of 1 April 2022, e-invoicing will be mandatory for taxpayers with revenues exceeding INR 20 crores (ca. 2,4 million EUR).
CBIC waives penalty on non-compliance to QR code till 1 July 2021
According to the Notification by the Central Board of Indirect Taxes and Customs (CBIC), the fine of non-compliance with provisions of B2C invoice QR code was postponed.
Taxpayers in India: How is the e-invoicing mandate affecting you?
From 1 April 2021, the e-invoicing infrastructure in India will become mandatory for all businesses with an annual turnover exceeding 50 crore INR.
E-invoicing and QR code adoption for certain businesses from 1 April 2021
The Central Board of Indirect Taxes and Customs (CBIC) has released new regulations for e-invoicing adoption, a dynamic quick response code implementation on B2C invoices and mentioning the HSN codes for GST compliance purposes.
India - scope of e-invoicing mandate extended as from 1 April 2021
E-invoicing obligation has been extended to companies with an annual turnover exceeding INR 50 Crores (ca EUR 5.600.000), as from 1 April 2021.
New proposals on the Customs Duty and Income Tax in India
The new Indian Union Budget for 2021/2022 was announced on 1 February 2021 by the Finance Minister Nirmala Sitharaman. It introduces several important proposals related to the Customs Duty aimed at promoting domestic manufacturing and helping India get on to the global value chain.
Mandatory for Issuing:
– 1 January 2021 – businesses > Rs. 100 Crore (ca EUR 11.200.000)
– 1 April 2021 – businesses > Rs. 50 Crore (ca EUR 5.600.000)
– 1 April 2022 – businesses > Rs. 20 Crore (ca EUR 2.400.000)
– 1 October 2022 – businesses > Rs. 10 Crore (ca EUR 1.400.000)
Mandatory for Receiving:
No explicit requirements
Mandatory to IRP
Allowed under conditions
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