Answer

1. F

   Facts

   Notification 13/2020-CT as amended exempts certain classes, including insurers, banking companies, financial institutions and NBFCs, goods transport agencies, suppliers of passenger transport, multiplex admission to cinema, SEZ units, and government departments and local authorities.

2. P

   Provisions and law

   • Notification 13/2020-CTBase notification on who must e-invoice and which entities are exempt
   • Rule 48(4), CGST Rules 2017Notified persons must upload invoice details to the IRP and get an IRN
3. A

   Analysis

   If you are in an exempt class, you need not generate IRNs even above ₹5 crore. But buyers' systems often expect an IRN from large suppliers, so file the self-declaration of exemption on the e-invoice portal and mention it on invoices. Check the latest list, since classes have been added over time.

4. C

   Conclusion

   1. 1Check whether your entity falls in an exempt class
   2. 2File the exemption declaration on einvoice1.gst.gov.in
   3. 3Inform key buyers of the exemption
   4. 4Recheck if your business activity changes

General guidance from TaxSavvy’s library of money processes. Laws change; your Savvy confirms the answer on your exact case before anything is filed.