PPT: Tax Invoice: Credit and Debit Notes | Taxation for CA Intermediate PDF Download

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Tax Invoice, Debit and 
Credit Notes under GST
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Tax Invoice, Debit and 
Credit Notes under GST
Tax Invoice – Sec 31
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a) Revised invoices may be issued against the invoice already issued during the period starting from
the effective date of registration till the date of issuance of certificate of registration within one
month from date of issuance of certificate of registration.
b) No invoice required to unregistered person < Rs. 200 & not demanded by person.
c) Composition dealers and Person supplying exempted goods or services to issue a bill of supply
instead of tax invoice
Registered 
taxable person 
shall issue tax 
invoice  
Supply of 
taxable 
goods 
Supply of 
taxable 
services
Before / at the time of :-
• Removal of goods for supply (supply involves
movement of goods)
• Delivery of goods/ making available to the
recipient (other cases)
Before / after provision of service but within
prescribed period
Page 3


1
Tax Invoice, Debit and 
Credit Notes under GST
Tax Invoice – Sec 31
2
a) Revised invoices may be issued against the invoice already issued during the period starting from
the effective date of registration till the date of issuance of certificate of registration within one
month from date of issuance of certificate of registration.
b) No invoice required to unregistered person < Rs. 200 & not demanded by person.
c) Composition dealers and Person supplying exempted goods or services to issue a bill of supply
instead of tax invoice
Registered 
taxable person 
shall issue tax 
invoice  
Supply of 
taxable 
goods 
Supply of 
taxable 
services
Before / at the time of :-
• Removal of goods for supply (supply involves
movement of goods)
• Delivery of goods/ making available to the
recipient (other cases)
Before / after provision of service but within
prescribed period
Tax Invoice – Sec 31
d) For receipts of advances on supply of goods / services: Receipt voucher/ other prescribed
document
e) In case of RCM or if goods / services are received from an unregistered person, the registered
taxable person shall issue an invoice
f) Refund of advance received in case of no supply of goods / services: Refund voucher against
such advance
g) In case of RCM or if goods / services are received from an unregistered person: Registered
person to issue payment voucher at the time of making payment
h) In case of continuous supply of goods where successive statements of accounts/ payments are
involved, invoice shall be issued before or at the time of each such statements/ payment.
i) In case of continuous supply of services
? Due date ascertainable – invoice to be issued before / after payment is liable to be made by
recipient but within prescribed period (whether or not payment received)
? Due date not ascertainable – invoice to be issued before / after each such time supplier
receives payment but within prescribed period
? Payment linked to completion of an event – invoice to be issued before / after time of
completion of that event but within prescribed period
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Page 4


1
Tax Invoice, Debit and 
Credit Notes under GST
Tax Invoice – Sec 31
2
a) Revised invoices may be issued against the invoice already issued during the period starting from
the effective date of registration till the date of issuance of certificate of registration within one
month from date of issuance of certificate of registration.
b) No invoice required to unregistered person < Rs. 200 & not demanded by person.
c) Composition dealers and Person supplying exempted goods or services to issue a bill of supply
instead of tax invoice
Registered 
taxable person 
shall issue tax 
invoice  
Supply of 
taxable 
goods 
Supply of 
taxable 
services
Before / at the time of :-
• Removal of goods for supply (supply involves
movement of goods)
• Delivery of goods/ making available to the
recipient (other cases)
Before / after provision of service but within
prescribed period
Tax Invoice – Sec 31
d) For receipts of advances on supply of goods / services: Receipt voucher/ other prescribed
document
e) In case of RCM or if goods / services are received from an unregistered person, the registered
taxable person shall issue an invoice
f) Refund of advance received in case of no supply of goods / services: Refund voucher against
such advance
g) In case of RCM or if goods / services are received from an unregistered person: Registered
person to issue payment voucher at the time of making payment
h) In case of continuous supply of goods where successive statements of accounts/ payments are
involved, invoice shall be issued before or at the time of each such statements/ payment.
i) In case of continuous supply of services
? Due date ascertainable – invoice to be issued before / after payment is liable to be made by
recipient but within prescribed period (whether or not payment received)
? Due date not ascertainable – invoice to be issued before / after each such time supplier
receives payment but within prescribed period
? Payment linked to completion of an event – invoice to be issued before / after time of
completion of that event but within prescribed period
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Credit / Debit Notes – Sec 34
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Where Taxable value 
and/or tax 
Charged in Tax 
Invoice > Amount 
Payable or goods 
returned by 
recipient or services 
found deficient 
Taxable Person 
to issue CREDIT 
Note
On or before 30
th
September following 
end of FY of supply or 
date of annual return 
whichever is earlier
No Credit Note if 
incidence of tax and 
interest on supply 
has been passed to 
any other person
Charged in Tax 
Invoice < Amount 
Payable 
Taxable Person to 
issue DEBIT Note
* Registered taxable person issuing Debit / Credit notes to declare its details in the return for the
month during which such notes are issued / received or in the return for any subsequent month but
not later than September following the end of FY of supply, or the date of filing of the relevant
annual return, whichever is earlier, and the tax liability shall be adjusted in the manner specified in
this Act.