New Update GST e-Invoice Reporting System in India
| | Product Manager software applications/services electronic business data exchange, SEEBURGER
Once again, short notice changes have been made to the GST e-invoice reporting – just 2 months before reaching the October deadline
As many of us expected, the Indian government has once again made last-minute changes to the new GST mandate for e-invoicing in India – just two months before the mandatory electronic invoicing is due to come into force.
Update to our blog of 10 February 2020
On 30 July 2020, the Indian government issued two Central Tax Notifications that change the GST e-invoice reporting in India – both technically and in its scope for taxpayers.
Read the March 21, 2022 update for more information.
Changes to the new Indian GST E-Invoicing Mandate:
- Technical change: A new JSON schema version 1.1 has been published in Notification No. 60/2020 – Central Tax.
- Change of the taxpayers’ scope: The annual turnover of the taxpayers in scope has been increased to the new threshold of 500 Crores Indian Rupees (INR), according to Notification No. 60/2020 – Central Tax. Before, the threshold of the turnover was 100 Crores Indian Rupees (INR).
The deadline of the mandate remains unchanged. It will enter into force on 1 October 2020.
The taxpaying sectors that are exempted from the tax (insurance companies, banks, the freight transport authority [road haulage in freight transport], passenger transport services and multiplex cinema admissions) remain the same.
Experiences from various e-invoicing mandates around the world and the Indian GST reform of 2017 onwards show that this may not be the last change to GST e-invoice reporting.
Even if you have just ‘slipped through the net’, with the new threshold we recommend that you now prepare your company proactively for GST e-invoice compliance – instead of waiting for the next official changes that will force you to prepare for the mandate at short notice.
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Written by: Gerrit Onken
Gerrit Onken has been at SEEBURGER since 2010 as a product manager for software applications and for electronic data exchange services for the business sector. He focuses on solutions for SAP, electronic invoicing (e-invoicing) and innovations for digitalizing business and technical processes for globally-active customers. Originally a banker, Gerrit Onken went on to graduate in business administration, majoring in industrial management and business informatics. After working in the financial sector, he worked as a manager and project manager from 2004 to 2010 for one of the top five corporate consultancies, working with international BPOs in the banking and automotive industries.
