The Central Board of Indirect Taxes and Customs (CBIC) vide notification dated February 24, 2022 has issued amendment to the prior dated the March 21, 2020 to revise the definition of “registered person”. This amendment shall be in effect from April 1, 2022.
The amendment provides that the registered person whose aggregate turnover in a financial year exceeds twenty crore rupees shall be treated as a class of registered person who shall prepare invoice and other prescribed documents in respect of supply of goods or services or both to a registered person.
