Explain in brief the provisions requiring the issuance of an e-invoice. Also list out the entities which are exempt from issuing e-invoices. Discuss…

(b) A registered person (except specified class of persons), whose aggregate turnover in any preceding financial year from 2017-18 onwards exceeds 5crore, are required to issue e-invoice in respect of B2B supplies (supply made to a registered person) and for exports. Following entities are exempt from the mandatory requirement of e-invoicing:- (1) Special Economic Zone units (2) Insurer or banking company or financial institution / NBFC (3) Goods Transport Agency supplying services in relation to transportation of goods by road in a goods carriage (4) Supplier of passenger transportation service (5) Person supplying services by way of admission to exhibition of cinematograph films in multiplex screens (6) a Government Department and (7) a local authority SEZ developers are not exempt from issuing e-invoices. Thus, SEZ developers whose turnover exceeds 5crore in any preceding financial year from 2017-18 onwards are mandatorily required to issue e-invoices.