Important Update: New 30-Day Limit for Reporting e-Invoices on the IRP Portal – AATO Threshold Lowered to 10 Crores!

Posted on 05-11-2024:

Attention GST taxpayers! There's an important update on the reporting timeline for e-invoices on the Invoice Registration Portal (IRP). Let's break it down for you:

Key Highlights:

1. Starting April 1, 2025, taxpayers with an Annual Aggregate Turnover (AATO) of 10 crores and above will need to adhere to a 30-day reporting window for submitting e-invoices.

2. This new rule applies to all types of documents requiring an Invoice Reference Number (IRN), such as Invoices, Credit Notes, and Debit Notes.

3. Here’s what this means: For an invoice dated April 1, 2025, it must be reported on the IRP by April 30, 2025. The IRP system will automatically prevent any e-invoice submissions after the 30-day window has passed. So, timely reporting is crucial!

4. This reporting restriction does not apply to taxpayers with an AATO of less than 10 crores.

5. This change aims to streamline the e-invoicing process and enhance compliance, giving everyone ample time to adapt before the rule goes live.

Mark your calendars and make sure to prepare ahead! Compliance with this timeline will be essential to avoid disruptions.