Aggregate Turnover cut-off of Rs 100 Crores for E-Invoicing soon
As in the first month of the introduction of E-Invoicing, more than 495 Lakh e-invoices were generated on the NIC portal by 27,400 taxpayers.
The Government is planning to reduce the aggregate turnover cut off to Rs. 100 Crores for IRN generation in the coming days. NIC has already enabled the API and offline tool based trial sites for these taxpayers.
For small taxpayers who need to prepare 5-10 B2B invoices in a day, NIC is also developing an offline Excel-based IRN preparation and IRN printing tool. This tool will allow:
- entering of invoice details,
- prepare no the file to upload on the portal,
- download the IRN with QR code and
- print the e-invoice with QR code.
Ref: Press Release dated 2nd November 2020.
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