Revision of Invoice in GST Sec 31(3)(a) - GST Ready Reckoner - GST

Revision of Invoice in GST Issuance of Revised Invoice ( As per Sec. 31(3)(a) read with rule 53 of CGST Rule) Time Manner of issue of revised invoice In case of New registration , registered person may, within one month issue a revised invoice against the invoice already issued during the period beginning with the effective date of registration till the date of issuance of certificate of registration to him . Revised invoice shall enable the recipient to take ITC of tax charged in revised invoice. This provision is necessary as a person who becomes liable for registration has to apply for registration within 30 days of becoming liable for registration. When such an application is made within the time period and registration is granted, the effective date of registration is the date on which the person became liable for registration. Thus there would be a time lag between the date of grant of certificate of registration and the effective date of registration. For supplies made by such person during this intervening period, the law enables issuance of a revised invoice, so that ITC can be availed by the recipient on such supplies . Case Law IN RE: M/S. VIVO MOBILE INDIA PRIVATE LIMITED( 2019 (12) TMI 1463 - AUTHORITY FOR ADVANCE RULING, UTTAR PRADESH ) Input Tax Credit is not admissible to the applicant on the basis of original invoices issued by the service provider from old GST Number 09AVKPS1666H2Z1, as the service provider was registered as an Input Service Distributor and had already claimed a refund of the tax deposited under the old registration number. I nput Tax Credit is also not admissible on the revised invoices issued by the service provider from the new GST Number 09AVKPS1666H1Z0, as the invoices were revised by another legal entity/person, which is not permissible under Section 31 (3) (a) of the CGST Act, 2017 read with Rule 53 of the CGST Rules, 2017. Registered person may issue a consolidated revised tax invoice in respect of all taxable supplies made to a recipient who is not registered under the act during such period. In case of inter-state supplies, where the value of supply does not exceed INR 2,50,000/-, a consolidated revised invoice may be issued separately in respect of all recipient located in state , who are not registered under the act. Content of the revised invoice ( as per rule 53 of CGST Rules) A revised tax invoice referred to in section 31 shall contain the following particulars, namely:- the word Revised Invoice , wherever applicable, indicated prominently; name, address and Goods and Services Tax Identification Number of the supplier; a consecutive serial number not exceeding sixteen characters, in one or multiple series, containing alphabets or numerals or special charactershyphen or dash and slash symbolised as - and / respectively, and any combination thereof, unique for a financial year; date of issue of the document; name, address and Goods and Services Tax Identification Number or Unique Identity Number, if registered, of the recipient; name and address of the recipient and the address of delivery, along with the name of State and its code, if such recipient is un-registered; serial number and date of the corresponding tax invoice or, as the case may be, bill of supply; signature or digital signature of the supplier or his authorised representative. A credit or debit note referred to in section 34 read with rule 53 of CGST Rules shall contain the following particulars, namely: name, address and Goods and Services Tax Identification Number of the supplier; nature of the document; a consecutive serial number not exceeding sixteen characters, in one or multiple series, containing alphabets or numerals or special characters-hyphen or dash and slash symbolised as - and / respectively, and any combination thereof, unique for a financial year; date of issue of the document; name, address and Goods and Services Tax Identification Number or Unique Identity Number, if registered, of the recipient; name and address of the recipient and the address of delivery, along with the name of State and its code, if such recipient is un-registered; serial number(s) and date(s) of the corresponding tax invoice(s) or, as the case may be, bill(s) of supply; value of taxable supply of goods or services, rate of tax and the amount of the tax credited or, as the case may be, debited to the recipient; and signature or digital signature of the supplier or his authorised representative Invoice issued after suppression of facts , fraud , seizure consfiscation Any GST paid in pursuance of any tax payable in accordance with the provisions of section 74 or section 129 or section 130 by way of issue of revised invoice shall prominently contain the words INPUT TAX CREDIT NOT ADMISSIBLE Example XYZ Industries of Delhi, the aggregate turnover has exceeded the applicable threshold limit of Rs. 40 Lakh on 1st September. it submitted the application for registration on 20 September. registration certificate is granted to it on 25th September. XYZ Industries of Delhi, liable to registration as on 1 September (as per sec. 22 read with N.N. 10/2019-CT dt. 07 March 2019), further the application for registration has been submitted within 30 days from 1st September, registration shall be effective from the on which the person become liable to registration(Sec. 25 read with rule 10 of the CGST Rule) therefore, the effective date of registration is 1st September. Registered person may, issue a revised invoice against the invoice already issued during the period beginning with the effective date of registration till the date of issuance of certificate of registration to him.