TMI BlogIntroduction of Tax Invoice in GSTX X X X Extracts X X X X X X X X Extracts X X X X ..... goods or supplies in respect of which a tax invoice shall be issued, within such time and in such manner as may be prescribed. (2) A registered person supplying taxable services shall, before or after the provision of service but within a prescribed period, issue a tax invoice, showing the description, value, tax charged thereon and such other particulars as may be prescribed: Provided that the Government may, on the recommendations of the Council, by notification and subject to such conditions as may be mentioned therein, specify 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 may not be issued. (3) Notwi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... but subsequently no supply is made and no tax invoice is issued in pursuance thereof, the said registered person may issue to the person who had made the payment, a refund voucher against such payment ; (f) a registered person who is liable to pay tax under sub-section (3) or sub-section (4) of section 9 shall issue an invoice in respect of goods or services or both received by him from the supplier who is not registered on the date of receipt of goods or services or both; (g) a registered person who is liable to pay tax under sub-section (3) or sub-section (4) of section 9 shall issue a payment voucher at the time of making payment to the supplier. (4) In case of continuous supply of goods, where successive statements of a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... registered person a) in case of taxable supply of goods or services or both and b) in case he receives taxable goods or services or both from unregistered person where he pays tax under reverse charge basis. However no tax invoice may be raised if the value of taxable goods or supply or both is less than two hundred rupees. Bill of supply is issued in case of supply of exempted goods or non taxable supply or supply by a person paying tax under composition levy. It is issued when the supplier is not required to charge any tax. Revised invoice can be issued by a registered person against supplies made during the period from the date of application of registration till the grant of registration. Receipt voucher ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nvoice; HSN code of goods or Service Accounting Code of services; Description of goods or services; Quantity in case of goods and unit or Unique Quantity Code thereof; Total value of supply of goods or services or both; Taxable value of supply of goods or services or both taking into account discount or abatement, if any; Rate of tax (IGST, CGST, SGST/UTGST, or cess); Amount of tax charged in respect of taxable goods or services (central tax, State tax, integrated tax, Union territory tax or cess); Place of supply along with the name of State, in case of a supply in the course of inter-State trade or commerce; Address of delivery where the same is different from the place of supply; Whether the tax is payable ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , but also otherwise in the normal course of any business. Relevant extracts as below: Issue 1 : An advance is received by a supplier for a service contract which subsequently got cancelled. The supplier has issued the invoice before supply of service and paid the GST thereon. Whether he can claim refund of tax paid or is he required to adjust his tax liability in his returns? Clarification 1 : In case GST is paid by the supplier on advances received for a future event which got cancelled subsequently and for which invoice is issued before supply of service, the supplier is required to issue a credit note in terms of section 34 of the CGST Act. He shall declare the details of such credit notes in the return for the month during wh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... recipient and where tax invoice had been issued, the supplier is required to issue a credit note in terms of section 34 of the CGST Act. He shall declare the details of such credit notes in the return for the month during which such credit note has been issued. The tax liability shall be adjusted in the return subject to conditions of section 34 of the CGST Act. There is no need to file a separate refund claim in such a case. However, in cases where there is no output liability against which a credit note can be adjusted, registered persons may proceed to file a claim under Excess payment of tax, if any through FORM GST RFD-01 . - Manuals - Ready reckoner - Law and practice - Reference Guide - Quick Commentary Tax Management India ..... X X X X Extracts X X X X X X X X Extracts X X X X
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