Goods and Services Tax – GST Dated:- 3-10-2020 – News – The Government had in December 2019 prescribed that the GST Taxpayers having aggregate annual turnover more than ₹ 100 crore in any preceding Financial Year will be required to issue e-invoice for all the Business to Business (B2B) supplies, in the manner prescribed under rule 48(4) of the CGST Rules, 2017 w.e.f. 1 st April 2020. Further, it was also mandated under rule 48 (5) of the CGST Rules, 2017 that a B2B invoice or an export invoice issued by such a taxpayer, in any other manner, shall not be treated as an invoice. In March 2020, the date of implementation of e-invoice was extended to 1 st October 2020. Keeping in view the hardships faced by the taxpayers
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such non-adherence to provisions, shall stand waived if the Invoice Reference Number (IRN) for such invoices is obtained from the Invoice Reference Portal (IRP) within 30 days of date of invoice. The same is illustrated with an example: In case a registered person has issued an invoice dated 3 rd October, 2020 without obtaining IRN but reports the details of such invoice to IRP and obtains the IRN of the invoice on or before 2 nd November, 2020 , then it shall be deemed that the provisions of rule 48 (5) of the CGST Rules, 2017 are complied with and the penalty imposable under section 122 of the CGST Act, 2017 shall also stand waived. Relevant notifications would follow. It may be noted that no such relaxation would be
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