The limit of gross turnover for e-invoice has been revised w.e.f.01.04.2022
The CBIC has made e-invoice mandatory under GST from 1st April, 2017 for registered persons having aggregate turnover of more than Rs.20 crore in any previous year from 2017-18 to 2021-22
Now the limit is Rs 50 crore
1 question always comes about e-invoicing. Earlier there was no required turnover in any year, but this year if the turnover limit is crossed, will it be necessary to start E-invoicing immediately?-
No. In the year after the end of this year, you will have to start e-invoicing. Take care of it.
GSTN enables filing of LUT for FY 2022-23 on GST portal:
The Goods and Services Tax Network (GSTN) has enabled the facility of filing of Memorandum of Understanding (MoU) for the financial year 2022-23 on the GST portal for taxpayers.
The last date to apply is March 31, 2022.
GSTN Enabled Facility for Withdrawal of application for cancellation of GST registration:
The Goods and Services Tax Network (GSTN) has enabled withdrawal of applications for cancellation of GST registration on the GST portal. In case the application for cancellation of GST registration is made by mistake and the applicant wants to withdraw the application, the same may be withdrawn:
GSTN Enabled Window is able to opt for Composition Scheme for FY 2022-23:
The Goods and Services Tax Network (GSTN) has enabled taxpayers to opt for composition scheme for FY 2022-23 on the GST portal. Eligible taxpayers who wish to avail the composition scheme can opt for composition scheme before 31st March, 2022.
GSTR-3B now has tax liability tab:”
After the ‘Pay’ step, this tab is enabled. For accurate calculation of system-computed interest, division of external liability of the previous month/s included in the current GSTR-3B may be provided.