GST: Decision to upload old e-Invoice in seven days postponed for three months, traders will get relief

The GST network's decision to upload old e-invoices on the Invoice Registration Portal (IRP) within a specified time frame for businesses with a turnover of more than Rs 100 crore has been deferred by three months. Big businesses will get relief from this.

Last month, the GST Network (GSTN) had said that all businesses with a turnover of more than Rs 100 crore would have to upload the e-invoice on the Invoice Registration Portal (IRP) within seven days of generation and this decision was implemented on 1 May.

As per the GST law, if a business does not upload the e-invoice on the IRP portal, it does not get the benefit of an input tax credit.

A statement issued by the GST network said that the authority has decided to defer for three months the decision to upload e-invoices on the IRP portal for businesses with a turnover of more than Rs 100 crore within seven days. Has gone. It may be noted that earlier no such limit was fixed by the GST network for uploading e-invoices on the IRP portal.

Let me tell you, all the big businesses were facing problems due to this change in GST. Because the apprehensions of many new additional entries were increasing due to the end of the financial year 2022-23. At the same time, by implementing this decision after three months, big firms will get a lot of relief and in future, this decision can be implemented properly.