GSTN mandates e-Invoicing for businesses with over INR 5 crores turnover from April 01, 2024


The GSTN issued Advisory No. 628 on April 03, 2024, mandating e-Invoicing for businesses with a turnover exceeding INR 5 crores from April 01, 2024 onwards.

If your turnover exceeds INR 5 crores in the financial year 2023-2024, you will be required to start e-Invoicing from the next financial year, i.e., from 1st April 2024 onwards.

For those who meet the notification criteria but have not yet been enabled on the portal, you can self-enable for e-Invoicing by visiting https://einvoice.gst.gov.in and start reporting through any of the 4 new Invoice Registration Portals (IRPs) - from e-Invoice IRP 3 to e-Invoice IRP 6

        https://einvoice3.gst.gov.in     https://einvoice4.gst.gov.in

         https://einvoice5.gst.gov.in     https://einvoice6.gst.gov.in

To report e-Invoices through NIC IRP 1 & 2, taxpayers can self-enable at

        https://einvoice1.gst.gov.in      https://einvoice2.gst.gov.in

For any assistance, please feel free to contact us at the GST Helpdesk number 1800-103-4786 or visit the Grievance Redressal Portal at https://selfservice.gstsystem.in/ to log a ticket.

The Advisory can be accessed at: https://www.gst.gov.in/newsandupdates/read/628

Popular posts from this blog

How to e-Pay Income Tax Online?

Image
  How to e-Pay Income Tax Online? Here's a step-by-step guide on how to make tax payment on the Income Tax Portal  without logging in: Step 1: Navigating to 'e-Pay Tax' Section Visit the Income Tax Portal On the homepage, locate the 'Quick Links' section on the left side.  Click on the 'e-Pay Tax' option or use the search bar to find 'e-Pay Tax'. Step 2: Enter PAN/TAN and Mobile Number Enter your  PAN  and re-enter to confirm it.  Provide your  mobile number  and click 'Continue'.     Enter the  6-digit OTP  received on your mobile number and click 'Continue'.   Step 3: Select the correct Assessment Year and Payment Type Select the first box labelled as  ‘Income Tax’  and click  ‘Proceed’     From the ‘ Assessment Year ’ dropdown, select ‘ 2024-25 ’ Under the ‘ Type of Payment ’, select ‘ Self-Assessment Tax (300) ’ and click on ' Continue '. Step 4: Enter Tax Payment Details  Enter the p...
Read more

GST Council meeting on September 9: A look at key proposals and expected changes

Image
  GST Council meeting on September 9: A look at key proposals and expected changes The GST Council’s meeting promises to address issues that could impact various sectors. Here's a look at key expectations: Compensation cess continuation  | The Council is expected to provide clarity on the continuation of the GST compensation cess. Sources suggest that the cess may extend “well into” 2025-26 (FY26). There will also be discussions on whether to eventually replace this cess with a tax or a new cess. Review of GST on insurance premiums |  One of the major topics is the GST rate on life and health insurance premiums. The fitment panel has reviewed the current 18% GST rate, and the Council will deliberate on possible reductions. This change could provide relief to policyholders. Relief for foreign airlines |  Another key issue is the GST burden on foreign airlines. The Council may consider exempting the import of services by foreign airlines’ head offices when received wit...
Read more
Image
New EPFO rule for you: No need to request for PF transfer on changing jobs Did you know? From now on, you won't have to request the transfer of provident funds when changing jobs. Starting April 1, a major change has been implemented for subscribers of the Employees’ Provident Fund Organisation (EPFO). Automatic transfer system The EPFO has rolled out a system that enables the automatic transfer of an employee's PF balance when they switch employers. Under the new system, employees whose Universal Account Number (UAN) is linked and fully compliant with Know Your Customer (KYC) requirements will find their PF balances automatically transferred to their new employer's PF account. This automatic transfer is triggered by the first contribution made by the new employer. What is UAN? UAN is a 12 digit unique number provided to each employee contributing to the EPF. The number, generated and assigned by EPFO, is authenticated by the Ministry of Labour and Employment. This number r...
Read more