GST Invoice Rules

  • Contents of Invoice
  • Time period for issue of invoice
  • Exemption from issue of invoice
  • Credit and Debit notes
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What is GST Invoice?

GST invoice is the bill raised by the registered taxpayer at the time of sale of goods and/or services.

Invoice in case of Goods needs to be issued before or at the time of:
  1. Removal of goods for supply in case the supply involved movement of goods
  2. Delivery of Goods in any other case.
Invoice in case of Services needs to be issued:
  1. Before the provision of services
  2. After the provision of services, within the time prescribed.
Particulars in GST Invoice:
A GST Invoice must contain the following details:
  1. Customer Name, Address and GSTIN
  2. Date
  3. Serial Number of Invoice
  4. Seller Name, Address and GSTIN
  5. HSN Code(of Goods) / Accounting Code (of Services)
  6. Description of Goods and/or services
  7. Quantity in case of goods and unit or Unique Quantity Code thereof
  8. Total Value of the Goods and/or services
  9. taxable value of supply of goods and/or services taking into account discount or abatement, if any
  10. Rate of Tax
  11. Amount of Tax
  12. Place of Supply
  13. Address of delivery where the same is different from the place of supply
  14. Whether the tax is payable on reverse charge basis or not
  15. Signature or digital signature of the supplier or his authorized representative.
Time Period for issue of Invoice
Supply of Goods
On or before the date of removal or delivery, as the case may be
Continous supply of Goods
On or before the issue of account statement or payment, as the case may be
Provision of Services
Etiher before or witihn 30 days from the date of supply of services
Provison of Services (in case of Banks & NBFCs)
Etiher before or witihn 45 days from the date of supply of services
Copies of Invoice:
In case of Goods:
3 copies
  1. Original for Recipient
  2. Duplicate for Transporter
  3. Triplicate for Supplier
In case of Goods:
2 copies
  1. Original for Recipient
  2. Duplicate for Transporter
Exemption from issue of Invoice
  1. In case the value of goods and/or services is less than INR 200/-
  2. Person supplying exempted goods (in such case Bill of Supply is issued)
  3. Person paying tax under composition levy scheme (in such case Bill of Supply is issued)
Note:

If a registered person is supplying taxable as well as exempted goods/ services to an unregistered person, then he can issue a single "invoice-cum-bill of supply" for all such supplies. (Notification No. 45/2017 – Central Tax)

Invoicing in case of Advance Payment
  1. Receipt Voucher is issued by the registered person
  2. In case of receipt of advance payment and issue of receipt voucher for the same, sale is not effected later on or invoice is not issued, Refund Voucher can be issued against such payment
Credit and Debit Notes
Credit Notes are issued in following cases:
  1. Taxable Value declared in the Invoice exceeds the actual taxable value
  2. Tax amount charged in the Invoice exceeds the actual tax payable
  3. Goods supplied are returned back
  4. Goods and / or Services are found to be deficient.
Debit Notes are issued in following cases:
  1. Taxable Value declared in the Invoice is lower than the actual taxable value to be charged
  2. Tax amount charged in the Invoice is lower than the actual tax payable.