Invoice Rule Amendment:
Government modifies rule 48 of the Central Goods and Services Tax Rules, 2017, concerning invoice preparation.
Scope of Amendment:
Registered persons with an annual turnover exceeding one hundred crore rupees mandated to adhere to sub-rule (4) of rule 48 for invoicing.
Recommendations Basis:
Decision made on the recommendations of the Council, ensuring alignment with industry standards.
Effective Date:
Amendment comes into force on April 1, 2020, as per the official announcement.
Issuing Authority:
Ruchi Bisht, Under Secretary to the Government of India, confirms the amendment implementation.
Legal Compliance:
Notification issued under the authority of sub-rule (4) to rule 48, Central Goods and Services Tax Rules, 2017.
Preparation Notice:
Registered entities falling under the prescribed turnover category advised to prepare invoices accordingly from the specified date.