Understanding the Implementation of E-Invoice in GST: Key Notifications and Rules
8/5/20241 min read
Introduction to E-Invoice in GST
The concept of e-invoicing under Goods and Services Tax (GST) has been introduced to ensure a seamless flow of input tax credit (ITC), eschew tax evasion, and streamline the audit process. The e-invoicing system mandates the generation of invoices in a standardized format through GSTN's common portal. This blog post delves into the pivotal aspects of e-invoicing, focusing on Notification Number 13/2020 and Rule 48(4).
New limit of as per Notification number 10/2023-Central tax is 5 Crore. Now every registered person whose aggregate turnover exceed 5 crore need to generate E-Invoicing.
Aggregate turnover includes exempt supplies.