Federal government waives charge for non compliance with QR code

New Delhi: The government has actually waived the penalty for non-compliance with QR code arrangements for B2C (business-to-consumer) billings generated by companies till March 31, 2021. Nevertheless, it would be mandatory for services to follow the QR code provisions from April 1, 2021 to obtain this charge waiver.The requirement of printing vibrant QR code on B2C invoices is being carried out from December 1. Quick Action code or QR code helps users confirm the information in digitally signed e-invoices. Under the Item and Solutions Tax (GST), companies with a turnover of over Rs 500 crore need to create e-invoices for B2B (business-to-business) deals from October 1. Nevertheless, it is not yet necessary for B2C transactions.The Central Board of Indirect Taxes and Customizeds (CBIC), in a November 29 notice, stated the charge has actually been waived for non-compliance with QR code arrangements for B2C deals in between the duration from December 1, 2020 to March 31, 2021, subject to the condition that the said individual adhere to the provisions from April 1, 2021. Talking about the action, EY Tax Partner Abhishek Jain said, “The central federal government has actually provided the much required relaxation for the businesses by waiving the penalty for non-compliance with QR code requirement till March 2021 for B2C deals.”As many of the industry gamers were not ready, this waiver would provide the requisite time for the industry to be ready for this compliance.”AMRG & Associates Partner Rajat Mohan said, “Federal government has waived the charge for non compliance to QR code provisions if they are complied by April 1, 2021, for default throughout the duration of December 1, 2020 to March 31, 2021. This will be a relief for big taxpayers who were not able to execute this digital change in invoicing system due to the lack of resources during the pandemic.”Under e-invoicing, taxpayers need to generate billings on their internal systems (ERP/accounting/billing software) and after that report it online to the ‘Invoice Registration Website’ (IRP). The IRP will validate the info provided in the invoices and return the digitally signed e-invoices with a distinct ‘Billing Recommendation Number’ (IRN) along with a QR code to the taxpayer.

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