The Goods and Services Tax (GST) e-invoice system has issued an important advisory on a new 30-days time-limit for the reporting of invoice on Invoice Registration Portal (IRP) which is applicable to Annual Aggregate Turnovers (AATO) greater than or equal to 100 crores with effect from November 1st 2023.
The advisory states that “It is to update you that it has been decided by the GST Authority to impose a time limit of 30 days for reporting of invoices from date of invoice, on e-invoice portals. This time limit is applicable for taxpayers with AATO greater than or equal to 100 crores. Hence, the taxpayers in this category will not be allowed to report invoices older than 30 days on the date of reporting.”
The advisory also emphasised that this restriction will be relevant to all document types that necessitate the creation of IRNs (Invoice Reference Numbers). Therefore, the reporting of items like Credit/Debit notes must adhere to the same 30-day timeframe from their issuance date. To provide an example, if an invoice bears a date of November 1, 2023, it must be reported no later than November 30, 2023.
Recently, the GST E-way bill system has recently released an update, reminding GST taxpayers to adhere to the incorporation of 6 Digit or 4 Digit HSN Codes, which will be made mandatory in a short while.
Also, the National Informatics Centre has updated that the Two factor Authentication is mandatory for all taxpayers who have Annual Aggregate Turnover (AATO) above 100 crores from 15th July 2023.
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