Tax Invoice, Credit Note and Debit Note:
♦ Every Taxable person supplying goods or services or both is required to issue ‘tax invoice’.
♦ The Tax Invoice shall contain details as specified in rule 1.
♦ Tax Invoice should have unique consecutive serial number in one or multiple services, including alphabets or numericals or special character hypen or dash or slash.
♦ It should contain HSN Code of goods or Accounting Code of services in respect of tax invoices of taxable persons having turnover beyond specified limits.
♦ Invoice for export should contain clear endorsement with required details
♦ If value of each invoice is less than Rs 200, consolidated invoice may be issued at end of the day.
♦ Tax Invoice for goods shall be in triplicate with specified marking.
♦ Tax Invoice for supply services shall be issued within 30 days of supply of service. In case of banking company, NBFC or FI invoice can be issued within 45 days.
♦ Tax Invoice for services shall be in duplicate with specified marking.
♦ In case of banking company, FI, NBFC or telecom operator providing service to their own branch in another State, they may issue invoice on quarterly basis.
♦ In case of exempt goods or services or when tax is paid under composition scheme, the supplier should issue Bill of Supply instead of Tax Invoice with details specified in rule 4.
♦ When Advance is received, Receipt Voucher should be issued with details as specified in rule 5 of Invoice rules. At that stage, GST is payable but recipient cannot avail input tax credit as goods or services or both have not been received by him.
♦ Supplementary Invoice, Debit Note or Credit Note should be serially numbered and shall contain details as specified in rule 6 of Invoice Rules.
♦ Invoice of Input Service Distributors shall contain details as specified in rule 7 of Invoice Rules.
♦ When material is sent for job work, Delivery Challan should be prepared in triplicate containing details specified in rule No. 8(1) of Invoice Rules.
♦ If goods are transported in semi-knocked down condition, complete invoice shall be issued before despatch of first consignment and then delivery challan should be issued for subsequent consignments. Original copy of invoice shall be sent with last consignment.