Tax Invoice in respect of services
"Invoice" is a principal document issued by the supplier of goods or services to the recipient in respect of goods or services supplied to him. Under GST Acts, separate time limits have been prescribed for issuing invoices for goods and services. The date of issuing invoice plays an important role in deciding the "Time of Supply" of services thereby the liability to pay GST on provision of services.
A registered taxable person supplying taxable services shall, before or after provision of services but within a prescribed time limit, issue a tax invoice showing the following: -
(a) Description of services provided
(b) Value of services
(c) Tax charged thereon showing CGST/SGST/IGST separately
(d) Such other particulars as may be prescribed
Other document instead of tax invoice or tax invoice may not be issued:
The Central/ State Government may notify the categories of services in respect of which (a) any other document issued in relation to the supply shall be deemed to be a tax invoice or (b) Tax invoice need not be issued.
Time limit for issuing tax invoice for services
- The invoice in case of taxable supply of services, shall be issued within a period of 30 days from the date of supply of service.
- However, the insurer or a banking company or a financial institution or NBFC can issue tax invoice within 45 days from the date of providing service.
Manner of issuing invoice for supply of services
The invoice shall be prepared in duplicate in the following manner: -
(a) Original Copy: - Being marked as ORIGINAL FOR RECIPIENT and
(b) Duplicate Copy:- Being marked as DUPLICATE FOR SUPPLIER
