The Goods and Service Tax Kerala on July 31, 2023, issued a notification regarding the GST: E-invoicing for those with turnover above 5 crores.
E-invoicing has been made mandatory from August 1, 2023, for business-to-business business transactions of merchants with an annual turnover above Rs 5 crore.
From the financial year 2017-2018 and in any of the previous financial years, i.e. till 2022-23, traders with an annual turnover of Rs 5 crore or more will have to prepare e-invoices from August 1, 2023.
E-Invoicing Applicable Traders shall prepare e-invoices for taxable goods and services and credit debit notes issued by the trader. Currently, e-invoicing is mandatory for businesses with a turnover of more than 10 crore rupees. This has been reduced to Rs 5 crore from August 1, 2023.
For the movement of goods by traders liable to invoice E-invoicing should be done in advance. For this one must register on the e-invoice portal https://einvoice1.gst.gov.in and obtain 'User Credentials'. Merchants who have user credentials in the e-way bill portal can log in to this invoicing portal with the corresponding user id and password.
[Notification No. CT/15318/2019-P2]
