Tax Invoice
A registered person supplying taxable goods shall, before or at the time of –
Removal of goods for supply to the recipient, where the supply involves movement of goods or
Delivery of goods or making available thereof to the recipient in any other case
Showing the description, quantity and value of goods, the tax charged thereon and such other particulars as may be prescribed.
In case of services, before or within 30 days after the provision of services showing therein description, quantity, value of goods and tax charged thereon.
Tax invoice may not be issued for a value less than Rs. 200/- if it is issued to unregistered person. In such case a consolidated tax invoice may be issued for all such supplies at the close of each day.
Bill of Supply – for exempted supplies or supplies under Composition Scheme.
Receipt Voucher – for receipt of advance payment
Refund Voucher – for refund of advance payment
Invoice – in case tax is payable on reverse charge basis
Payment Voucher – at the time of making payment in case tax is payable on reverse charge basis.
In case of continuous supply of goods, where successive statement of accounts or successive payments are involved, the invoice shall be issued before or at the time each such statement is issued or each such payment is received.
Where the due date of payment is ascertainable from the contract, the invoice shall be issued on or before the due date of payment
Where the due date of payment is not ascertainable from the contract the invoice shall be issued before or at the time when the supplier if service receives the payment
Where the payment is linked to the completion of an event the invoice shall be issued on or before the date of completion of that event.
In a case where the supply of services ceases under a contract before the completion of the supply, the invoice shall be issued at the time when the supply ceases and such invoice shall be issued to the extent of the supply made before such cessation.
Where the goods are sent on approval for sale, the invoice shall be issued on or before – at the time goods are approved for sale or 6 months from the date of removal of goods, whichever is earlier.
For export of goods or services, tax invoice shall carry an endorsement –
“Supply meant for Export on payment of IGST”
Or
“Supply meant for Export under Bond without payment of IGST”
Manner of Issuing Invoice –
For supply of Goods – Triplicate
“ORIGINAL FOR RECIPIENT”
“DUPLICATE FOR TRANSPORTER”
“TRIPLICATE FOR SUPPLIER”
For supply of services – Duplicate
“ORIGINAL FOR RECIPIENT”
“DUPLICATE FOR SUPPLIER”
Where any supply is made for a consideration, every person who is liable to pay for such supply shall prominently indicate in all documents relating to assessment, tax invoice and other like documents, the amount of tax which shall form part of the price at which such supply is made.
Credit and Debit Note
Credit Note shall be issued where –
Taxable value or tax charged is found to exceed the actual taxable value or tax charged.
Where goods are returned
Goods or services found to be deficient
2. Such credit note shall be shown in the monthly return in which it has been issued but not later than –
September of next Financial Year or
Date of furnishing of the relevant annual return
Whichever is earlier
Debit Note shall be issued where taxable value or tax charged in tax invoice is found to be less than actual taxable value or tax charged.
Debit note shall be shown in the monthly return in which it has been issued.
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