TAX INVOICE

Question 1

31(1)

Time of issue of Tax invoice by RP for supply of goods

Answer 1

before or at the time of:
* removal of goods –> When there is movement of goods
* delivery or making available the goods

Question 2

31(2)

Time of Issue of tax invoice by RP for supply of services

Answer 2

Before or after the provision of service

Within 30 days from the date of sos

Question 3

RUle 46

Particulars of Tax Invoice

Answer 3

1. Name, address & GSTIN of supplier & recipient
2. Date of issue of invoice
3. HSN code & description of G/S
4. Place of supply & value of supply

Rule 46A. Invoice-cum-bill of supply.

Question 4

31(3)(a)

Revised Invoice

Rule 53(1)

Answer 4

31(3)(a) - Revised invoice - to be issued against tax invoices issued between the effective date of registration and date of issuance of RC

Within 1 month of RC. (Eff. date of Reg is the date when liability to re

Question 5

Rule 47

Time limit for issuing tax invoice for service

Answer 5

30 days from the date of SoS

Insurer/ Bank/ NBFC - 45 days

Question 6

Rule 48(1)

Issue of invoice for SoG

Manner of issuing invoice

Answer 6

Three copies
1. Original for Recipient
2. Duplicate for Transporter
3. Triplicate for supplier

Question 7

Rule 48(2)

Issue of Invoice for SoS

Manner of issuing invoice

Answer 7

2 Copies
1. Original for recipient
2. Duplicate for Supplier

Question 8

Rule 48(3)

Furnishing of invoice

Answer 8

The serial number of invoices issued during a tax period shall be furnished electronically in FORM GSTR-1

Question 9

Rule 48(4)

e-invoice

Answer 9

• Upload particulars in GST INV-01
• Obtain IRN

Question 10

31(3)(c)

Bill of Supply

Rule 49 & Rule 46 A

Answer 10

RP to issue BoS instead of TI
* Exempt supply
* Composition tax
(Because tax is not collected from recipient)

R 49. BoS
R 46A - Invoice cum BoS - Sp of both taxable & exempt G/S

Question 11

31(3)(d)

Receipt Voucher

Rule 50

Answer 11

Receipt voucher to be issued on receipt of Advance Payment

R 50. Receipt voucher - Details required

Question 12

31(3)(e)

Refund Voucher

Rule 51

Answer 12

When:
* Advance payment received
* Receipt voucher issued
* But no supply made &
* No tax invoice issued
Refund voucher to be issued

Question 13

31(3)(f)

Recipient to issue TI

Supplier - Unregistered

Answer 13

A RP who is liable to pay Tax u/s 9(3) or 9(4) shall issue invoice for goods/ services received from Unregistered Supplier

Question 14

31(3)(g)

Recipient to issue payment voucher

Rule 52

Answer 14

RP paying tax under RCM has to issue payment voucher

Question 15

31(4)

Continuous Supply of goods

Time of issue of Invoice

Answer 15

Invoice to be issued every time BoatT
* of issue of statement of accounts (or)
* receipt of payment

A statement of accounts is a document that reflects all transactions tha

Question 16

31(5)

Continuous Supply of services

Time of issue of invoice

Answer 16

On or before
* due date of pmt (if ascertainable from the contract) or
* time of receipt of pmt
* date of completion of event (if any)

Question 17

31(6)

When supply ceases before completion

Time of issue of invoice

Answer 17

• Invoice to be issued when supply ceases
• to the extent supplied before cessation

Question 18

31(7)

Goods sent on sale or return basis (Goods are removed before supply)

Time of issue of invoice

Answer 18

Invoice to be issued:
* BoatT of supply or
* 6 months from the date of removal
- Whichever is earlier

Question 19

e-invoice mandate

Answer 19

Notified persons: RP with AT >50 cr in P.FY

Notification no. 05/2021 CT, Principal Notf: 13/2020

Question 20

e-invoice procedure

e-invoicing covers - invoices, debit notes & credit notes

Answer 20

1. Supplier generates the invoice
2. Invoice to be reportyed to Invoice registration portal
3. Supplier receives the digitally signede e-invlice with the unique IRN.

The e-invoice data will be autopopulated in GSTR-1, e-way bill, etc.

Question 21

Applicability of E-invoice

Answer 21

1. B2B Supplies by NP
2. Exports by NP
3. RCM supplies made by NP