QR code printing on B2C invoices by large biz deferred till Sept 30

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. 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.

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.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)