E-invoice mandatory for taxpayers having turnover more than 20cr from 1 April 2022

E-invoice is now mandatory for Turnover of more than Rs 20 cr from 1st April 2022 as per notification no. issued by Central Board of Indirect Taxes & Customs [CBIC].  Central Board of Indirect Taxes & Customs [CBIC] wide Notification Number 01/2022 dated 24th Feb 2022 confirms that E-Invoicing is now mandatory for Turnover of more than Rs 20 cr from 1st April 2022.

Currently, the limit for generating the E-Invoice is Rs 50 Cr and more which has been put into effect from 1st April 2021, while for companies having turnover more than Rs 100 crore was made effective from 1st Jan 2021 and turnover more than Rs 500 Cr was made effective from 1st October 2020.

Notification:
Now, the CBIC vide Notification No. 01/2022 – Central Tax dated February 24, 2022 has issued amendment in NN 13/2020, so as to notify such turnover limit from INR 50 crores to INR 20 crores in a following manner: W.e.f. April 1, 2022, the class of registered person are mandatorily required to issue e-invoice, whose aggregate turnover in any preceding financial year from 2017-18 onwards exceeds INR 20 crores.

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