Relaxation for Issue of E-Invoice Under GST
Central Board of Indirect Tax and Customs (CBIC) has notified via Notification No. 73/2020 – Central Tax  a Special Procedure for the Tax Payers who are supposed to issue E-Invoice from 1st October 2020. This Special Procedure is only allowed for the period 1st October 2020 to 31st October 2020.
E-Invoice is a new procedure which is applicable to all tax payers whose turnover of previous year is greater than Rs. 500 Crore. CBIC has designed a common portal where Tax payers can upload information about the invoice and Invoice Reference Number (IRN) as well as a Dynamic QR Code is generated. IRN and QR Code must be mentioned in the Invoice. All the information are needed to be uploaded on Form GST INV-01.
In the notification they have allowed the class of tax payers who are supposed to generate E- Invoice, a special procedure is that the person can obtain IRN and QR code within 30 days of generation of such invoice. If the tax payer doesn’t generate the IRN and QR code within 30 days then such invoice will be treated as void and the taxpayer needs to generate a new invoice.
We can say that government had provided us the trail period so that we can adjust through the latest system of generating new E-Invoice.
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