07-November-2024
Taxation
 
Businesses with turnover over Rs 10 cr cannot report e-invoices older than 30 days from April 1, 2025
06-Nov-2024

From April 1, 2025 onwards, businesses with Aggregate Annual Turnover (AATO) greater than Rs 10 crore will not be allowed to report e-invoices older than 30 days on the date of reporting under the goods and services tax (GST). The reform will ensure on-time tax payment and will regulate the delays in reporting of tax invoices, streamlining the GST ecosystem as a whole. Earlier this time limit restriction was applicable for taxpayers with AATO greater than or equal to 100 crores. "From 1st April 2025, taxpayers with an AATO of 10 crores and above would not be allowed to report e-Invoices older than 30 days from the date of reporting on IRP portals," said an advisory issued late Tuesday, by the GST e-invoice systems.

News Source:- https://economictimes.indiatimes.com/news/economy/policy/businesses-with-turnover-over-rs-10-cr-cannot-report-e-invoices-older-than-30-days-from-april-1-2025/articleshow/114998537.cms