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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