Maximum allowed time to issue Tax Invoice after supply of Goods or/and Services
The below post explains about time of issue of GST Invoice and maximum period of time allowed to issue GST Tax Invoice for a particular supply, as per GST Law
As we know, any invoice is issued at the time of sales occurs. The invoice is prime document for any sale transaction. The sales could be goods or services. Usually invoice is generated at the time sale of goods or services. Additional Invoice (Debit Invoice) to previously issued Invoice is issued later if situation arises. Credit Invoice (credit note to previously issued invoice) also could be generated later if such situation arises.
Is there a particular period within which GST Tax Invoice has to be issued?
According to GST Law of India, “the invoice referred to in sub-rule (1), in case of taxable supply of services, shall be issued within a period of thirty days from the date of supply of service:
Provided that in case of continuous supply of services, the invoice shall be issued within a period of thirty days from the date when each event specified in the contract, which requires the recipient to make any payment to the supplier of services, is completed.”
The GST Law also states: “Provided further that where the supplier of service is a banking company or a financial institution including a non-banking financial company, the period within which the invoice is to be issued shall be forty-five days from the date of supply of service.”
The above information is about the time duration allowed to issue a GST Invoice for a supply of goods or services.
Share below your views about the time period allowed under GST Law for issuing a GST Tax Invoice for a particular supply of goods or service.
Related Information links:
How to prepare GST tax Invoice?
GST Invoice for Export purpose
How many copies of GST Tax Invoice to be issued?
GST Invoice Reference number
How to prepare Bill of Supply under GST?
How to prepare a Supplementary tax invoice?
Can a Tax Invoice be revised under GST Law?
Credit Invoice on Taxable supply of GST
Input Service Distributor’s GST Invoice
GST Invoice of Financial institutions
GST Invoice of a Transport Company
Process of application for registration under GST Act to obtain GSTIN
Different application Forms for registration under Goods and Service Tax Act (GSTIN)
Application for registration under GST Act to obtain GSTIN
GST registration and returns filing procedures for PSUs and Government entities
Re-registration of GST, Goods and Service Tax.
Cancellation of registration of GST
All about registration of GST in India, FAQ
Cancellation of GST Registration in India, FAQ
Can a person without GST registration claim ITC?
Why separate Registration of GST in each state in India, for each business.
Latest date to file GST registration in India
Procedures to obtain GST registration for non-resident taxable person
Is digital signature option available under registration of GST in India?
Advantages of GST registration in India
Who has to obtain GST registration in India?
Transhipment - A redefinition
Travelers to India under import duty exemption, Frequently Asked Questions Part 2
Types of Insurance Documents.
How does Wire transfer work in international business?
How is assessable value calculated by customs for imports?
How is IGM filed under high sea sale?
How many of you know the meaning of Exports and Imports in India?
How many types of imports in India. Types of bills of Entry in India
How many types of shipping bills in export
How to add Line number in Import General Manifest in Custom in India
How to amend AWB number in Import General Manifest (IGM)
How to amend BL number in Import General Manifest (IGM)
How to amend consignee (importer) name in Import General Manifest (IGM)
How to amend container number in Import General Manifest IGM
How to amend date of bill of lading in Import General Manifest (IGM) in India
How to amend description of goods in Import General Manifest (IGM)