{"id":14033,"date":"2022-08-04T12:48:18","date_gmt":"2022-08-04T07:18:18","guid":{"rendered":"https:\/\/www.hostbooks.com\/in\/?p=14033"},"modified":"2025-10-30T13:37:20","modified_gmt":"2025-10-30T08:07:20","slug":"e-invoicing-businesses-aggregate-turnover-exceeding-%e2%82%b910-crore-will-mandatory-october-1","status":"publish","type":"post","link":"https:\/\/www.hostbooks.com\/in\/hb\/blog\/e-invoicing-businesses-aggregate-turnover-exceeding-%e2%82%b910-crore-will-mandatory-october-1\/","title":{"rendered":"E-Invoicing for Businesses with Aggregate Turnover Exceeding \u20b910 Crore Will Be Mandatory from October 1"},"content":{"rendered":"<p style=\"text-align: justify\">The finance ministry indicated a month ago and now it\u2019s been officially announced that E-Invoicing will be mandatory for businesses with aggregate turnover exceeding \u20b910 crores from October 1, 2022. At present, e-invoice is mandatory for businesses with an annual turnover exceeding \u20b920 crores. After the recommendation of the GST Council to minimize the <a href=\"https:\/\/www.hostbooks.com\/in\/blog\/e-invoice\/e-invoicing-limit\/\">e-invoicing limit<\/a>, Finance Ministry has issued a detailed notification of reducing the e-invoice threshold to 10 crores. <\/p>\n<p style=\"text-align: justify\">According to the report published in The Hindu BusinessLine, reducing the e-invoicing threshold would be implemented in two phases \u2013 first, for businesses having a turnover of \u20b910 crores or more, and second, the business with a turnover of \u20b95 crores or more. Speaking in an interview with the same journal before, Revenue Secretary Tarun Bajaj said, e-invoicing will be implemented in a phased manner; starting with the businesses having an annual turnover of \u20b9500 crores followed by \u20b9100 crores, 50 Crores, and \u20b920 crores. Now, it will bring down to \u20b910 crores and then \u20b95 crores.<\/p>\n<h3 style=\"font-size:22px; margin: 20px 0 7px 0; font-weight: 700;\">Mandatory E-Invoicing Will Not be a Financial Burden on Businesses<\/h3>\n<p style=\"text-align: justify\">The government has made it clear that implemented e-invoicing conditions will not put a burden on businesses as GSTN has impaneled various e-invoicing and billing software that facilitates e-invoicing along with related compliance. Further, there are also trusted premium billing and e-invoicing software in the market that are helping businesses generate e-invoices without any hassle.<\/p>\n<h3 style=\"font-size:22px; margin: 20px 0 7px 0; font-weight: 700;\">The Use of Invoice\/Billing Software<\/h3>\n<p style=\"text-align: justify\">It is advised to use only those Invoice\/Billing software that is capable of generating and storing invoices in electronic formats. Tax authorities have provided a standard format for generating e-invoices. E-Invoice not generated in the prescribed format is neither understood by the GST System nor by the systems of suppliers and receivers.<\/p>\n<p style=\"text-align: justify\"><a href=\"https:\/\/www.hostbooks.com\/in\/blog\/know-all-about-e-invoice-generation-system-process-with-applicability\/\">Generated E-Invoices<\/a> must have machine-readability and uniform interpretation. This is why e-invoicing standards have been prescribed. It brings complete \u2018inter-operability\u2019 of e-invoices across the entire GST eco-system. This way, e-invoices generated by one software can be read by any other one.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The finance ministry indicated a month ago and now it\u2019s been officially announced that E-Invoicing<span class=\"excerpt-hellip\"> [\u2026]<\/span><\/p>\n","protected":false},"author":1273,"featured_media":20162,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2693,9303],"tags":[9373,9372,9374,9363],"yst_prominent_words":[2313,7728,363,443,369],"_links":{"self":[{"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/posts\/14033"}],"collection":[{"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/users\/1273"}],"replies":[{"embeddable":true,"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/comments?post=14033"}],"version-history":[{"count":5,"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/posts\/14033\/revisions"}],"predecessor-version":[{"id":16146,"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/posts\/14033\/revisions\/16146"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/media\/20162"}],"wp:attachment":[{"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/media?parent=14033"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/categories?post=14033"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/tags?post=14033"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/yst_prominent_words?post=14033"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}