Central Board of Indirect Taxes and Customs (CBIC) has issued Notification No.70-CT dated 30th September, 2020 in order to further amend the Notification No.13-CT dated 21st March, 2020 to notify the class of registered person who shall be required to generate e-invoice from 1st day of October, 2020.
According to the amendment in the Notification, the registered persons whose annual turnover in any preceding financial year from 2017-18 onwards exceeds five hundred crore rupees shall be required to generate e-invoice in respect of supply of goods and/or services or both to a registered person or for exports. Prior to this amendment, “in the financial year” was mentioned which has now been replaced by “in any preceding financial year from 2017-18 onwards” to avoid ambiguity.
Source: Central Board of Indirect Taxes & Customs
