Changes in e-invoice validations

Posted on by CMA Bhogavalli Mallikarjuna Gupta

e-invoice is implemented from 1st Oct 2020 for taxpayers having turnover above ₹ 500 crores and the same has been reduced to ₹ 100 crores from 1st Jan 2021 and from 1st April 2021 to ₹ 50 crores.

Following are the changes announced in e-invoice validations during June 2021

  1. When SEZ Developer is Supplier, only IGST is applicable irrespective of Supplier State code and POS Code.
  2. In these cases, no need to set ‘IGSTonIntra’ flag to ‘Y’ (which would have mandated RCM = ‘Y’) since this is not applicable.

It has been rolled out in a very swift manner and without any hiccups.

GST Tip – 264

Posted on by CMA Bhogavalli Mallikarjuna Gupta

As per Notification No. 18/2017 -Integrated Tax (Rate), services imported by SEZ or SEZ developer for authorized operations are exempted completely from Integrated Goods and Service Tax.