GST assessees with turnover of ₹100 crore or more will now get up to 30 days to report invoice on e-invoice portal. Experts say such a move will further improve GST ecosystem.

New norms will come into effect from November 1. Earlier, it was said that the time limit would be 7 days. However, the industry protested after which decision was kept on hold.

An advisory by National Informatics Centre (NIC) said: “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 crore.” For example, if an invoice has a date of November 1, 2023, it cannot be reported after November 30, 2023.  

Further it has been clarified that the taxpayers in this category (₹100 crore+) will not be allowed to report invoices older than 30 days on the date of reporting. “Please note that this restriction will apply to the all document types for which IRNs are to be generated. Thus, the credit/debit note will also have to be reported within 30 days of issue from date of issue,” the advisory said.

‘On-time tax payment’

Rajat Mohan, Senior Partner with AMRG said 30 days deadline ideally should suffice. “On successfully implementing these timelines, CBIC will extend these provisions to all taxpayers in the next few months. This reform will guarantee on-time tax payment by controlling the reporting of tax invoice delays and strengthening the GST ecosystem overall,” he said.

As per Rule 48(4) of CGST Rules, notified class of registered persons have to prepare invoice by uploading specified particulars of invoice (in FORM GST INV-01) on Invoice Registration Portal (IRP) and obtain an Invoice Reference Number (IRN). After following above ‘e-invoicing’ process, the invoice copy containing inter alia, the IRN (with QR Code) issued by the notified supplier to buyer is commonly referred to as ‘e-invoice’ in GST.

Because of the standard scheme, ‘e-invoicing’ facilitates exchange of the invoice document (structured invoice data) between a supplier and a buyer in an integrated electronic format. It is important to note that ‘e-invoice’ in ‘e-invoicing’ doesn’t mean generation of invoice by a government portal. The invoice not registered on the portal will not be valid. In such a situation, input tax credit on the same cannot be availed by the recipient and will attract applicable penalties.