ABC Ltd removed the finished spare parts from its factory on 29th September.ĭetermine the date by which an invoice must be issued by ABC Ltd under GST Law? The moulds and dies were to be delivered on 30th September. To develop an understanding of when should we issue an invoice, we need to read a few examples, which will provide a clear-cut idea.Įxample: ABC Ltd entered into a contract with XYZ Ltd to sell moulds and dies of machines on 8th September. Examples on Time of Supply on Issue of Invoice In case of cessation of supply of services, According to Section 31(6), Where a supply of service ceases under a contract before the completion of the supply, the invoice shall be issued at the time when supply ceases and such invoice shall be issued to the extent of the supply made before such cessation. (b) Six months from the date of removal of goods by the supplier In case of supply on approval basis, according to Section 31(7), the invoice shall be issued, (c) In case of events are fixed in the contract, then the last date of completion of such event. (b) If the due date is not ascertainable then the date of payment received. (a) If the due date is ascertainable in the contract, then on such date. In case of continuous supply of services, according to Section 31(5), the invoice shall be issued on or before,
In case of continuous supply of goods, according to section 31(4), the invoice shall be issued before or at the time of, Special Provisions relating to different cases Normal Provisions relating to the issue of GST invoiceĪccording to Section 31(1), a GST invoice should be issued on or before if the movement of goods involved at the time of removal and in other cases at the time of delivery of goods or goods made available to the customer.Īccording to Section 31(2), GST invoice should be issued on or before the provision of services but not beyond 30 days after completion of services and 45 days in case of Banks, Financial institutions, Nonbanking financial companies, and Insurer. Time of Supply is different in goods and services and in reverse charge cases. Time of Supply of an Invoice in case of goods and services It is the time up to which an invoice should be issued and such date would be counted as the time when tax becomes payable to the government. The time of supply is the most important factor to be considered regarding the issue of an invoice. Now let us understand important concepts, regarding GST invoices issuance in the case of a supply of goods and services and in other cases. 200 then no need to issue a tax invoice in case of Business Consumer transactions. In case of the value of goods and services or both supplied is less than Rs. Once the invoice is issued as per GST law, GST is payable even if no payment is received from the recipient. 2.5 Lacs a consolidated revised tax invoice may be issued separately in respect of all unregistered recipients located in a state. In the case of inter-state supply, where the value of a supply does not exceed Rs. (e) Other details of Unregistered recipient.Ĭonsecutive serial number should not exceed 16 characters for a tax invoice and one or multiple series shall be maintained for the financial yearĪ consolidated revised tax invoice can be issued for all taxable supplies made to an unregistered person. (d) Name, Address & GSTIN/UIN of the recipient. Contents of GST InvoiceĪ GST invoice should have the following details such as Most simple invoice format for service providers.Īfter downloading the invoice always check whether the invoice format contains all “Contents of requisite GST Invoice” which are provided below. The most commonly used GST invoice format is mostly used by retailers.ĭownload GST invoice format 2 in PDF GST Invoice format for service providers In case GST rate is different on items, then add two columns in standard format for Rate and GST amount and total item wise below. GST Invoice format for Manufacturing entitiesĭownload GST Invoice format in excel for manufacturing unitsĭownload GST Invoice format in PDF for manufacturing units GST Invoice format for tradersīifurcate the GST Amount into IGST/ CGST & SGST. You can download the GST Bill format in excel or other formats and edit it as per your own terms and conditions. GST Billing format in Excel, PDF, and Word & Time of Supply
Person Supplying Taxable as well as Exempted Supply.Consolidated & Revised Invoice as per Section 31(3)(a).Examples on Time of Supply on Issue of Invoice.
Time of Supply of an Invoice in case of goods and services.GST Billing format in Excel, PDF, and Word & Time of Supply.