India News | QR Code Printing on B2C Invoices by Large Biz Deferred Till Sept 30

New Delhi, Jun 30 (PTI) The government on Wednesday extended by three months till October 1 the rollout of printing dynamic QR codes on B2C (business-to-consumer) invoices generated by large businesses.

QR code printing on B2C invoices by large businesses having an aggregate turnover of over Rs 500 crore was originally envisaged to be rolled out from October 1, 2020. However, the CBIC has been deferring its implementation.

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 September 30, 2021.

Quick response code or QR code help users verify the details in the digitally signed e-invoice.

AMRG & Associates Senior Partner Rajat Mohan said QR code for B2C transactions is meant to encourage digital payments by the buyers. However, a half-baked implementation will increase the harassment for large taxpayers.

Eyeing the mammoth task of pan-India implementation, government has yet again waived the penalty for non-compliance till September 30, 2021, he said.

"This extension will give much needed to relief to all consumer facing businesses including retail chains, 5 star hotels, aviation sector, telecom sector, gas stations, automobile showrooms etc," Mohan added.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)