New Provisions Inserted under GST Law
- E-invoice shall be prepared by a registered person whose aggregate turnover in a financial year exceeds ₹100 crores in respect to supply of goods or services or both to a registered person. This is effective from 1st April, 2020.
- E-invoice shall be prepared in Form GST INV-01 after obtaining an Invoice Reference Number (IRN) by uploading information contained therein on the Common GST Electronic Portal.
- Every invoice issued by a perso in any manner other than e-invoice shall not be treated as an invoice.
- Provisions prescribing triplicate or duplicate copy of invoice for supply of goods or services shall not apply to e-invoice.
Quick Response (QR) code
- An invoice issued by a registered person whose aggregate turnover in a financial year exceeds ₹500 crores to an unregistered person (B2C invoice) will have a QR code.
- Such person makes a dynamic QR code available to the recipient through a digital display, such B2C invoice containing cross-reference of the payment using a dynamic QR code shall be deemed to be having a QR code.