The Central Board of Indirect Taxes and Customs has through notification dated 08.03.2021 has amended prior notification dated the 21st March, 2020 The amendment provides that registered persons whose aggregate turnover in a financial year exceeds fifty crore rupees, shall qualify as a class of registered person who shall prepare invoice and other prescribed documents, in terms of sub-rule (4) of rule 48 of the Central Goods and Services Tax Rules, 2017 in respect of supply of goods or services or both to a registered person.
This notification shall be effective from 1st April, 2021.
As per the previous notification this was applicable only to persons whose aggregate turnover in a financial year exceeds one hundred crore rupees.
