NIC issues advisory on new time limit for reporting of invoices on the Invoice Registration Portal

 This Tax Alert summarizes a recent advisory ^[1] issued by National Informatics Centre (NIC) regarding new time limit for reporting of the invoices on the Invoice Registration Portal (IRP).

As per the Advisory, taxpayers having aggregate annual turnover (AATO) of more than or equal to INR100 crores will have to report invoices on the e-invoice portal within 30 days from the date of invoice. Such taxpayers will not be allowed to report invoices older than 30 days on the date of reporting.

The above restriction will apply to all document types for which invoice reference numbers (IRNs) are required to be generated. Thus, credit and debit notes will also have to be reported within 30 days from the date of issue.

This validation will come into effect from 1 November 2023.

Comments:

• Earlier, vide advisory dated 13 April 2023, time limit of 7 days was proposed to be imposed w.e.f. 1 May 2023, for reporting of invoices on the e-invoice portal. However, its implementation was deferred vide advisory dated 6 May 2023.
• Taxpayers may be required to comply with timelines for generation of IRN to avoid consequences.
• One will need to evaluate the legality of time limit introduced through NIC advisory, in the absence of any notification issued in this regard.

^[1] Dated 11 September 2023