GSTN defers by 3 months implementation of e-invoice reporting time limit
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GSTN has deferred by 3 months the implementation of time limit for businesses with turnover of over Rs 100 crore to upload their old e-invoices.
Last month the GST Network had imposed a timeline for businesses with turnover of Rs 100 crore and above for uploading e-invoices on the Invoice Registration Portal (IRP) within 7 days of the issue of such invoices beginning May 1.
Previously, there was no such restriction for businesses to upload the invoices on the IRP.
As per GST law, businesses cannot avail input tax credit (ITC) if invoices are not uploaded on the IRP.
In an advisory to taxpayers on May 6, GST Network said it has been decided by the competent authority to defer the imposition of time limit of 7 days on reporting old e-invoices on the e-invoice IRP portals for taxpayers with aggregate turnover greater than or equal to Rs 100 crore by three months. (Source - PTI, Economic Times)
Last month the GST Network had imposed a timeline for businesses with turnover of Rs 100 crore and above for uploading e-invoices on the Invoice Registration Portal (IRP) within 7 days of the issue of such invoices beginning May 1.
Previously, there was no such restriction for businesses to upload the invoices on the IRP.
As per GST law, businesses cannot avail input tax credit (ITC) if invoices are not uploaded on the IRP.
In an advisory to taxpayers on May 6, GST Network said it has been decided by the competent authority to defer the imposition of time limit of 7 days on reporting old e-invoices on the e-invoice IRP portals for taxpayers with aggregate turnover greater than or equal to Rs 100 crore by three months. (Source - PTI, Economic Times)
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