GST Updates relating to e-invoicing and extension in due date for filing annual return for 2018-19
Blog: NASSCOM Official Blog
Changes relating to E-Invoicing:
One-time relaxation in implementation of E-Invoicing – In view of the fact that some taxpayers have still not been able to implement e-invoicing in their ERPs, government has decided that invoices issued by such taxpayers during October 2020 without following the manner prescribed under rule 48(4) of Central Goods & Services Tax Rules, 2017 (CGST Rules) shall be deemed to be valid and the penalty leviable for non-adherence to provisions, shall be waived if the Invoice Reference Number (IRN) for such invoices is obtained from Invoice Reference Portal (IRP) within 30 days of date of invoice. No further relaxation will be available for invoices issued from 1st November 2020.
No requirement of physical invoice when e-invoice is generated – Further, Rule 138A of CGST Rules have been amended to enable paperless movement of goods. Physical invoice copy is not required where e-invoice is generated.
B2C QR code deferred to 01 December 2020: The government, vide issue of Notification No. 71/2020-Central Tax dated September 30, 2020 has deferred implementation of dynamic QR code on B2C invoices to December 1, 2020.
Calculation of threshold of INR 500 crores for applicability of e-invoicing – CBIC issued Notification No. 70/2020 – Central Tax dated September 30, 2020 to clarify that e-invoice provisions would need to be complied with by entities having turnover exceeding INR 500 crores in any financial year i.e. F.Y 2017-18, F.Y 2018-19 or F.Y 2019-20. This is now aligned with the way GSTN was structured and determining eligibility for e-invoicing.
Further, e-invoicing has been prescribed exports as well in line with clarifications provided by the CBIC and GSTN/ NIC from time to time. Until now, only the supplies made to registered persons was considered in the notification.
Extension in due date to file Annual return for 2018-19: Notification no 41/2020 has been amended to notify the due date to file GSTR – 9 and GSTR – 9C for the period 2018-19 as October 31, 2020. This is in line with NASSCOM’s recommendation to GST Policy Wing.
Relevant notifications are attached for your reference.
We hope you will find the update useful.