The government of Karnataka has issued a notification reducing its threshold limit for utilisation of Dynamic Quick Response (QR) code. The threshold limit that was previously Rs. 10 crore has now been reduced to Rs. 5 crore.
Therefore an invoice issued by a registered person, whose aggregate turnover in any preceding financial year from 2017-18 onwards exceeds five crore rupees to an unregistered person (hereinafter referred to as B2C invoice), shall have Dynamic Quick Response (QR) code.
Where such registered person makes a Dynamic Quick Response (QR) code available to the recipient through a digital display, such B2C invoice containing cross-reference of the payment using a Dynamic Quick Response (QR) code, shall be deemed to be having Quick Response (QR) code.
This stipulation, however, does not apply to a registered person referred to in sub-rules (2), (3), (4) and (4A) of rule 54 of said rules, and registered person referred to in section 14 of the Integrated Goods and Services Tax Act, 2017.
