Sage-Tips

Is QR code on invoice mandatory?

E-invoicing and B2C transactions However, a taxpayer is required to generate a dynamic QR code for enabling digital payments on all B2C invoices as per Notification No. 14/2020-Central Tax, as amended by Notification No. 71/2020-Central Tax.

Is QR code mandatory for e invoice b2b?

QR Code is mandatory for all the registered persons to whom e-invoicing provisions are applicable. Here, the QR code would be generated by the Invoice Registration Portal itself. QR Code is applicable to the registered person having an aggregate turnover of more than INR 500 Crores.

Is e-invoicing mandatory from 1st April 2021?

The Central Board of Direct taxes and Customs (CBIC) has made the e-invoicing system mandatory for taxpayers with a turnover higher than Rs. 50 crore from 1st April 2021.

Is Einvoice mandatory?

e-Invoicing is mandatory from 1st October 2020 to all businesses whose aggregate turnover has exceeded the Rs. 500 crore limit in any of the previous financial years from 2017-18 to 2019-20. From 1st January 2021, e-invoicing became applicable to businesses exceeding the Rs. 50 crore from 1st April 2021.

Is e way Bill mandatory for e-invoice?

The e-invoice system under GST has become mandatory from 1st October 2020 for all registered taxpayers having turnover greater than Rs. 500 crore in FY 2019-20. Thereafter, it got extended to businesses with turnover more than Rs.

Is e-invoicing mandatory for B2B?

E-invoicing applies only to B2B invoices and not B2C invoices. Thus, B2B invoices require both e-way bills and e-invoices, whereas B2C invoices only require e-way bills to be generated (wherever e-way bill is applicable).

Is e invoice mandatory for B2C Taxguru?

E-invoicing applies only to B2B invoices and as of now B2C invoices are exempt from e- invoicing but now the law requires certain entities to generate dynamic QR code for enabling digital payments on all B2C invoices.