E-invoices older than 30 days cannot be reported by taxpayers with a turnover of more than ₹ 100 crore from November 1, 2023.
Businesses with Aggregate Annual Turnover (AATO) over ₹ 100 crore will not be allowed to report e-invoices older than 30 days on the date of reporting under the goods and services tax (GST) from 01st November 2023.
“It has been decided by the GST Authority to impose a time limit of 30 days for reporting of invoices from date of invoice, on e-invoice portals,” said an advisory issued by the GST e-invoice systems on Monday.
“This time limit is applicable for taxpayers with AATO greater than or equal to 100 crores,” it added.
Earlier the time limit proposed by the Central Board of Indirect Taxes and Customs (CBIC) was seven days, however it was further relaxed to 30 days taking note of concerns raised by the businesses.
The e-Invoice System is for GST-registered people for uploading all the business-to-business (B2B) invoices to the Invoice Registration Portal (IRP).
The IRP generates and returns a unique Invoice Reference Number (IRN), digitally signed e-invoice and QR code to the user
The advisory clarified that this restriction will apply to all document types for which IRNs are to be generated, including the Credit, Debit note.
“CBIC may extend these provisions to all taxpayers in the coming months if all goes well,” said Rajat Mohan, senior partner, AMRG & associates.
“This reform will ensure on-time tax payment by regulating the reporting of tax invoice delays and enhancing the GST ecosystem as a whole,” Mohan added.
Important to note that this restriction will apply to all the document types for which IRNs are to be generated. Thus, the Credit/Debit note will also have to be reported within 30 days of issue from date of issue. For eg: if an invoice has a date of Nov 1, 2023, it cannot be reported after Nov 30, 2023.
For official advisory, click here.
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