GST e-invoicing made mandatory if turnover exceeds Rs. 100 Crores instead of Rs. 500 crores w.e.f. 01.01.2021
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS)
Notification No. 88/2020–Central Tax
New Delhi, the 10th November, 2020
G.S.R. 704(E).—In exercise of the powers conferred by sub-rule (4) of rule 48 of the Central Goods and Services Tax Rules, 2017, the Government, on the recommendations of the Council, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 13/2020 – Central Tax, dated the 21st March, 2020, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 196(E), dated 21st March, 2020, namely:‑
In the said notification, in the first paragraph, with effect from the 1st day of January, 2021, for the words “five hundred crore rupees”, the words “one hundred crore rupees” shall be substituted.
[F. No. CBEC-20/06/04/2020-GST]
PRAMOD KUMAR, Director
Note : The principal notification No. 13/2020 – Central Tax, dated the 21st March, 2020 was published in the Gazette of India, Extraordinary, vide number G.S.R. 196(E), dated 21st March, 2020 and was last amended vide notification No. 70/2020-Central Tax, dated the 30th September, 2020, published vide number G.S.R. 596(E), dated the 30th September, 2020.
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- First-time experience in filing appeal a reasonable & bona fide cause for delay
- Non-disclosure of destination place in documents no ground for seizure u/s 129 of GST Act.
- Charging of exorbitant interest in commercial transactions not against morality or justice
- Assessees not required to prove “source of the source‟ of funds Prior to Finance Act 2022
- During pendency before settlement commission, assessee have right to contest assessment
