XYZ ltd sales for the year is 4.5cr. Apart from this, they have received the advance of Rs 60,00,000. Kindly guide whether E-invoicing is applicable in this case.
In nutshell, while calculating Aggregate turnover, whether advance should also be included??
E-Invoicing Under GST: Advance Receipts and Turnover Calculation Clarified for Businesses Below 5 Crore Threshold A discussion forum explores the applicability of e-invoicing under GST regulations for a company with annual sales of 4.5 crore and an advance receipt of 60 lakhs. Experts collectively conclude that advances are not automatically included in aggregate turnover calculations. The determination depends on the nature of supply (goods or services) and whether the advance has been adjusted against an actual invoice. In this specific case, e-invoicing is not mandatory as the aggregate turnover remains below the 5 crore threshold. (AI Summary)
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