The government exempts companies from penalizing non-compliance with QR Code provisions in case of transaction bills (B to C). Bills made up to 31 March 2021 are exempt from this.
However, it is mandatory for companies to exempt QR code provisions from April 1, 2021, with penalties. The system of publishing QR codes on B1C bills has been implemented since December 1. ‘Quick Response Code’ (QR Code) enables users to review details on digitally signed e-bills. Under the Goods and Services Tax (GST), companies trading in excess of Rs 500 crore are required to produce e-bills from October 1 for transactions between companies (BB).
However, it has not yet been made mandatory in the case of customers to companies B to C. The Central Indirect Tax and Customs Board (CBIC) said in a notification issued on November 29 that companies are exempted from penalties because they do not follow the QR Code provisions for transactions between customers. This exemption is from December 1, 2020 to March 31, 2021.
This exemption is subject to the condition that this person complies with this provision from April 1, 2021. To this end, Abhishek Jain, EY’s tax partner, said, “The central government has provided the necessary compensation for waiver of penalties for non-compliance with the QR Code in transactions between companies and consumers till March 2021. “Many companies are not ready yet,” he said. This exemption gave them time to follow the rules.
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