9911796707
TMI BlogGST: 10 POINT SERIES ON TAX INVOICEX X X X Extracts X X X X X X X X Extracts X X X X ..... GST: 10 POINT SERIES ON TAX INVOICE X X X X Extracts X X X X X X X X Extracts X X X X ..... stration under CGST Act and SGST Act can only issue tax invoice. * Tax invoice shall be issued: * in case of supply of taxable goods - at the "time of supply" * In case of supply of taxable service - within prescribed time * Thus tax invoice in respect of supply of taxable goods is to be issued even before the actual supply takes place i.e. even for advances. * Tax invoice, in case of su ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pply of taxable goods, shall contain description, quantity, value of goods, the tax charged thereon (CGST and SGST/ IGST) and other prescribed particulars. * Tax invoice, in case of supply of taxable goods, shall contain description, the tax charged thereon and other prescribed particulars. * In case registered taxable person is supplying non-taxable goods/ services or have opted composition s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cheme then "bill of supply" shall be issued instead of tax invoice. * Registered taxable person shall issue a revised invoice against invoice already issued starting from the effective date of registration till the date of issuance of certificate of registration. * In case invoice is not issued within the prescribed time or it is issued incorrectly then taxable person shall be liable to pay pe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nalty under Section 66 of the CGST Act/ SGST Act. * Tax invoice is an essential document for recipient of goods/ services to avail input tax credit. * Where any supply is made for a consideration, then person liable to pay tax shall prominently indicate in all documents relating to assessment, tax invoice and other like documents, the amount of tax which will form part of the price at which su ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ch supply is made.
Reply By Khagendranath Mahato as =
As per Proviso of section 24(1) of the Act no credit note shall be issued by the supplier if the incidence of tax and interest on relevant supply has been passed by him to any other person.
Requested to explain this situation with example.
Dated: 15-11-2016 X X X X Extracts X X X X X X X X Extracts X X X X
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