E-invoicing Update: Extension in implementation of QR Code till March 31, 2021
Blog: NASSCOM Official Blog
The Central Board of Indirect Taxes and Customs (CBIC) issued Notification No. 89/2020 – Central Tax on November 29, 2020 waiving off penalty on non- implementation of dynamic Quick Response (QR) code till March 31, 2021, which is mandatory for companies with turnover exceeding INR 500 crore. The waiver is applicable subject to the condition that compliance will be necessarily undertaken from April 1, 2021 onwards.
Last week, NASSCOM made a detailed representation to GST Council and GST Policy Wing requesting for deferment of applicability of dynamic QR Code for B2C invoices and providing clarity on the content and applicability of dynamic QR Code. Our representation can be accessed from here.
The extension in implementation of QR Code is a welcome move and was much warranted, considering lack of clarification on the exact requirements about its content and applicability. Government should clarify these aspects at the earliest, in order to enable the industry to prepare and implement modifications to their ERPs/ billing/ PoS systems.
Copy of the notification is attached for your reference.
We hope you will find this useful. We will keep you posted on further developments in this regard.
The post E-invoicing Update: Extension in implementation of QR Code till March 31, 2021 appeared first on NASSCOM Community |The Official Community of Indian IT Industry.
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