No proposal before the Government, at present, to reduce e-invoicing threshold limit to Rs 5 Crore with effect from 01.01.2023 : CBIC
The Central Board of Indirect Taxes and Customs through its official twitter handle, has clarified , that there is no proposal before the Government, at present, to reduce this threshold limit to Rs 5 Crore with effect from 01.01.2023
In the tweet, CBIC has stated that some news reports have appeared in the media today suggesting that though GST Council has recommended reducing the threshold for generation of e-invoice to Rs. 5 cr with effect from 1.1.23, the Government is yet to issue notification in the matter, giving rise to uncertainties amongst the taxpayers.
It is clarified that, presently, e-invoicing has been made mandatory for registered persons having aggregate turnover more than Rs. 10 crore in any preceding financial year from 2017-18 onwards, referring to Notification no. 17/2022-Central Tax dated 01.08.2022.
It is further clarified that, There is no proposal before the Government, at present, to reduce this threshold limit to Rs 5 Crore with effect from 01.01.2023, as no such recommendation has been made by GST Council as yet.
