GSTN Delays the Time Limit for Furnishing GST E-Invoices By 3 Months


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Arpit Kulshrestha

GSTN Defers the Time Limit of E-Invoicing Reporting

GSTN (Goods and Services Tax Network) has postponed by 3 months the implementation of the time limit for companies with revenue of over Rs. 100 crore to submit their old e-invoices. View More

In the previous month, the GST Network introduced a timeline for businesses with a total turnover of Rs. 100 crore and above for uploading e-invoices on the Invoice Registration Portal (IRP) within 7 days of the issue of such invoices, beginning May 1.

Earlier, there was no such constraint for businesses to submit invoices on the IRP.

According to the GST law, if invoices are not uploaded on the IRP, businesses are not allowed to avail of the input tax credit (ITC).

On May 6, through an advisory, GST Network told taxpayers that the competent authority has decided to postpone the imposition of a time restriction of 7 days on reporting old e-invoices on the e-invoice IRP portals for taxpayers with a gross income of more than or equal to Rs. 100 crores by three months.

Rajat Mohan, the senior partner at AMRG & Associates said that even large entities have been baffled by this new notification of the requirement to issue a GST e-invoice within 7 days of the invoice date.

Concerns were rising in consideration of extra entries made because of year-end charges resulting from auditor recommendations and annual reconciliations.

Further Mohan added that large firms will now receive an extension for the next three months to allow for a smooth implementation of the aforementioned provisions.

Disclaimer:- “All the information given is from credible and authentic resources and has been published after moderation. Any change in detail or information other than fact must be considered a human error. The blog we write is to provide updated information. You can raise any query on matters related to blog content. Also, note that we don’t provide any type of consultancy so we are sorry for being unable to reply to consultancy queries. Also, we do mention that our replies are solely on a practical basis and we advise you to cross verify with professional authorities for a fact check.”

Published by Arpit Kulshrestha

Arpit Kulshrestha seeks higher interests in financial services, taxation, GST, I-T, etc. Writes articles with depth knowledge and is extensive for the same. The resources provide effective articles for the products of SAG infotech which provides taxation and IT software. Writing from observations and researching makes his articles virtuous.
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