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E-INVOICE UNDER GST (Relaxation granted in case of non-issuance of E-invoice during October, 2020)

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In wake of COVID-19 pandemic, the Finance Minister has further issued a press release dated September 30, 2020, to provide relaxation from the requirement to generate IRN in respect of invoices issued during the period month October 2020. 

Highlights

  • Last chance has been given in the initial phase of implementation of e-invoice.
  • It has been decided that the invoices issued during October 2020 without following the manner prescribed under rule 48(4)(E-invoice), shall be deemed to be valid, if invoice Reference Number (IRN) for such invoices is obtained from the Invoice Reference Portal (IRP) within 30 days of the date of invoice.
  • Example: In case a registered person has issued an invoice dated 3rd October 2020 without obtaining IRN but reports the details of such an invoice to IRP and obtains the IRN of the invoice on or before 2nd November 2020 then it shall be deemed to be a valid invoice.
  • No such relaxation would be available for the invoices issued from 1st November 2020. 

Author's Comment

This press release comes as big relief to the large corporates who are implementing E-invoicing for the first time. This extra time shall be used by corporates to train their staff on the new process, rather than again waiting for the new date of implementation i.e. 1 November 2020.

 

SOURCE : CBIC NOTIFICATIONS

Disclaimer : TAXGyaAan is meant purely for the educational purpose of Tax Laws and Regulatory Updates. It will not be treated as professional advice. This Blog should not be substituted for professional advice. For specific Queries, please post in the comments section.

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