The government has deferred by three months till July 1 the requirement of printing dynamic QR code on B2C (business-to-consumer) invoices generated by businesses.
Quick response code or QR code help users verify the details in the digitally signed e-invoice.
In a notification, the Central Board of Indirect Taxes and Customs (CBIC) waived the amount of penalty payable by a registered person for non-compliance of provisions of dynamic QR code in B2C invoices till June 30, 2021, subject to the condition that businesses comply with the provisions from July 1, 2021.
AMRG & Associates Senior Partner Rajat Mohan said large taxpayers having an aggregate turnover beyond Rs 500 crore would get relief from the said penalty waiver, which required the printing of a dynamic QR code on every B2C invoice.
EY Tax Partner Abhishek Jain said, “Some of the clarifications on issues around B2C QR code were released by the government only a few weeks ago, leaving very limited time for the industry to implement the requisite changes in their ERP or accounting systems.”
Team – Intellex Strategic Consulting Pvt Ltd
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