E Invoice Applicability

[Madhukumar Keethur]

Hi,

In a company GST Turnover in the present financial year (FY 21-22) crosses the limit of 20 crores at the end of July 2022 and the same company turnover in the last preceding financial year 4 crore only(i.e not exceeds the limit of 20Crore)

My question is as follows

1.E invoice applicable from Aug 2022 or from April 2023(i.e Next Financial Year) ?

2.Can i go for voluntarily for generating e invoice ?

Kindly suggest me the right way of generating e invoice.

AI Summary

E-invoice applicability: threshold breach in the ongoing year may require mandatory generation from the following financial year.
Where aggregate turnover exceeds the prescribed threshold during FY 2021 22, one view advises mandatory e invoice generation from 1 April 2022 based on a regulatory notification; an alternate view treats the obligation as commencing from the next financial year. The matter also contemplates voluntary early adoption of e invoicing.