03.09.21
India extends the scope of the invoice reporting mandate from April 1, 2021
The Indian Central Board of Indirect Taxes and Customs (CBIC) has changed the revenue threshold that determines whether companies are required to report invoice data to the Invoice Registration Portal (IRP).
Via Notification No. 05/2021–Central Tax, the Central Board has lowered the threshold to Rs 50 Cr ($6.8m). The revenue threshold applies to aggregated revenues on PAN-level (Permanent Account Number) and will therefore apply to all GSTINs under the Permanent Account Number.
The change will be effective from April 1, 2021.
The announcement has been published in the Gazette of India on 8 March 2021: http://egazette.nic.in/WriteReadData/2021/225713.pdf
Click here to learn more about the Indian mandate.
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