Compulsory E Invoice for 10 crore turnover

E-invoice is compulsory for businesses with an annual turnover of over Rs 10 crore applicable from 01/10/2022 as per Notification No. 17/2022–Central Tax dated 01.08.2022.
E-invoicing provisions are applicable when the stated aggregate turnover threshold limits crosses in any of previous financial year(s) starting from FY 2017-18. Thus, aggregate turnover limit of current financial year is not to be considered.As of now, e-invoice applicable only for B2B Taxable Supplies of Goods or Services or both, Debit Note/ Credit Note, Exports.
E-invoice provisions are not applicable to Business to Consumer transactions.

No matter how careful you are when invoicing, sometimes things just happen and you have to update or modify the e-invoice as a result. While things appear to happen, the basic question is whether or not e invoices may be changed or updated after IRN and QR code have been generated.
The answer is "No." Once the IRN is generated for an invoice, the e-invoice cannot be modified, amended, or deleted.

What should I do if the e-invoice has an error or wrong data entry?

The e-invoice cannot be changed or corrected if an error, inappropriate, or wrong input is made. There is no other choice but to cancel that invoice and IRN, upload a new invoice (with a new number), and create a new IRN.

Are there Exist any other choices?

"Yes" Apart from changing the e-invoice, there are other ways to correct the details.

1. Within 24Hrs from the time IRN is generated cancel the e-invoice and regenerate a new e-invoice.
2. If the deadline has passed, you must issue a debit note or credit note to nullify the information on the invoice.
3. The details of e-invoice will be auto-populated in GSTR-1 which can be modified manually on the GST portal in the GSTR-1 return as needed.

The above are the options that can be used to modify the e-invoice. depending on the situation and type of modification ,you can choose any of the option to modify the e-invoice details.

Is there a time limit to generate IRNs on the IRP? Can an IRN be generated 3-4 days after the date of the invoice?

A time limit to generate IRNs has not yet been notified. However, an invoice is considered valid only after its registration on the Invoice Registration Portal (IRP). Once uploaded on the IRP, the same will be registered immediately on a real-time basis.
Yes, an IRN can be generated a few days after the date of the invoice, but it is not recommended because you will be violating the Time of Supply rules by doing so. Besides, without an IRN, the invoice on hand will not be valid. Hence, it is recommended to generate IRN’s as and when invoices are raised.