Question
My turnover recently crossed Rs 5 crore. Do I now have to generate e-invoices?
Answer
E-invoicing is mandatory for businesses whose aggregate turnover exceeds Rs 5 crore in any financial year from 2017-18 onwards. The rule is once applicable, always applicable: if you crossed Rs 5 crore even once, you must keep generating e-invoices for B2B and export supplies even if turnover later drops below that level. Each invoice must be reported to the Invoice Registration Portal to obtain an IRN, and businesses with turnover of Rs 10 crore or more must do so within 30 days of the invoice date. SEZ units, banks, insurers and GTAs are exempt even above the threshold.
This answer is general information based on the law as it stood when written and is not professional advice on your specific situation. Verify the current position and consult a qualified professional before acting. See our disclaimer.