The government has further reduced the e-invoicing turnover limit covering companies with Annual Aggregate Turnover of Rs. 10 Cr. and above.
As per the GST notification 17/2022, from October 1, 2022 companies having AATO of Rs 10 Cr and above need to register their B2B invoices and other specific documents on IRP and get Invoice Registration Number in return. This is an attempt to accommodate MSMEs under e-invoicing and streamline the process while bringing in transparency and reducing tax evasion.