From April 1, 2025, business houses with an Annual Aggregate Turn Over (AATO) of ₹10 crore and above must report/upload e-invoices to the Invoice Registration Portal (IRP) within 30 days from the date of issue of the document.
Key Highlights
- Previously, this rule applied only to businesses with an AATO of more than ₹100 crore.
- The reduction in the turnover threshold significantly increases the number of businesses required to comply.
Mandatory Two-Factor Authentication (2FA):
- From April 1, 2025, all taxpayers, irrespective of turnover, must use 2FA for generating e-invoices and e-way bills.
Background of GST E-Invoicing:
- First approved by the GST Council in its 37th meeting on September 20, 2019.
- The GST Council of India approved and rolled out the ‘e-invoicing’ or ‘electronic invoicing’ eco-system in a phased manner for reporting of business-to-business (B2B) invoices to GST portal.
- GST e-invoicing involves reporting B2B and export invoices on the government’s e-invoice portal to obtain a unique Invoice Reference Number (IRN).
Exempted Sectors: The following sectors are exempt from mandatory e-invoicing:
- Special Economic Zone (SEZ) units
- Insurance and banking sectors, including NBFCs
- Multiplex cinema admissions
- Goods Transport Agencies (for road transport of goods)
- Passenger transport services
