Companies with turnover above Rs 5 crore won’t be able to generate e-way invoice with out together with e-invoice particulars for all B2B transaction from March 1.
Below the products and providers tax regime, e-way payments are required for inter-state transportation of products valued over Rs 50,000.
The Nationwide Informatics Centre (NIC) mentioned on evaluation it was discovered that a few of the taxpayers, who’re eligible for e-invoicing, are producing e-way payments with out linking with e-invoice for B2B (enterprise to enterprise) and B2E (enterprise to exports) transactions.
In a few of these circumstances, the bill particulars entered individually underneath e-way invoice and e-invoice usually are not matching with respect to the sure parameters. That is main in mismatch within the e-way invoice and e-invoice statements.
” to keep away from such conditions, e-way invoice technology is not going to be allowed with out e-invoice particulars from 1st March 2024. That is relevant for e-invoice enabled tax payers and for the transactions associated to provides underneath B2B and exports,” the NIC knowledgeable GST taxpayers.
Nonetheless, e-way payments for different transactions akin to B2C and non-supplies will perform as common with none change, the NIC mentioned.
