Rule 1 - Tax invoice - Draft - Goods And Services Tax - Invoice Rules, 20-- [September 2016]

DRAFT GOODS AND SERVICES TAX - INVOICE RULES, 20-- Note: Corresponding changes in the Model GST Law are being carried out separately. Comments , if any may kindly be given by 28 th September, 2016. Chapter-__ TAX INVOICE, CREDIT AND DEBIT NOTES 1. Tax invoice (1) Subject to rule 5, a tax invoice referred to in section 23 shall be issued by the supplier containing the following details:- (a) name, address and GSTIN of the supplier; (b) a consecutive serial number containing only alphabets and/or numerals, unique for a financial year; (c) date of its issue; (d) name, address and GSTIN/ Unique ID Number, if registered, of the recipient; (e) name and address of the recipient and the address of delivery, along with the name of State and its code, if such recipient is unregistered and where the taxable value of supply is fifty thousand rupees or more; (f) HSN code of goods or Accounting Code of services; (g) description of goods or services; (h) quantity in case of goods and unit or Unique Quantity Code thereof; (i) total value of goods or services; (j) taxable value of goods or services taking into account discount or abatement, if any; (k) rate of tax (CGST, SGST or IGST); (l) amount of tax charged in respect of taxable goods or services (CGST, SGST or IGST); (m) place of supply along with the name of State , in case of a supply in the course of inter-State trade or commerce; (n) place of delivery where the same is different from the place of supply; (o) whether the tax is payable on reverse charge; (p) the word Revised Invoice or Supplementary Invoice , as the case may be, indicated prominently, where applicable along with the date and invoice number of the original invoice; and (q) signature or digital signature of the supplier or his authorized representative . Provided that the Board/Commissioner may, by notification, specify - (i) the number of digits of HSN code for goods or, as the case may be, the Accounting Code for services, that a class of taxable persons shall be required to mention, for such period as may be specified in the said notification, and (ii) the class of taxable persons that would not be required to mention the HSN code for goods or, as the case may be, the Accounting Code for services, for such period as may be specified in the said notification: Provided further that in case of exports, the invoice shall carry an endorsement SUPPLY MEANT FOR EXPORT ON PAYMENT OF IGST or SUPPLY MEANT FOR EXPORT UNDER BOND WITHOUT PAYMENT OF IGST , as the case may be, and shall, in lieu of the details specified in clause (e), contain the following details: (i) name and address of the recipient; (ii) address of delivery; (iii) name of the country of destination; and (iv) number and date of application for removal of goods for export [ARE-1]. (2) 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: 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.