Updated on: 06 Mar, 2024 05:12 PM

Tax Invoices in Special Cases under GST

An invoice is a

  • Commercial document
  • Issued by a seller to a buyer in relation to sale
  • Which contains details of products, prices, quantity, terms of supply etc.

Contents :-

Under GST regime, Tax invoice is a very significant document It indicates the amount of GST and is also vital to claim input tax credit.

The prescribed format of Tax invoice under GST is mentioned under Rule 46. However, some relaxation and additional requirement is given in format of Tax invoice in some cases which is

  • Supply made by Banks, Insurance companies or financial institutions
  • Supply made by Goods Transport Agency
  • Supply made in case of passenger Transport service
  • Supply made by Input Service Distributor

What is the format of Invoice in case Supply made by Banks, Insurance companies or financial institutions?

When the supplier are banks, Insurers, Non- banking financial companies and financial institution, following relaxations are given

  • They may issue a consolidated tax invoice for all supplies made during the month on a monthly basis. Consolidated invoice may be issued
    1. Physically or
    2. Electronically

    and may be signed or digitally signed

  • Tax invoice is not necessarily required to have a serial number on it.
  • Address of recipient is also not mandatory on such tax invoice.
However, the relaxation shall be available in case of
  • Bill of supply
  • Debit Note
  • Credit Note
  • Payment Voucher
  • Receipt Voucher
  • Refund Voucher

What is the format of Invoice in case supply made by Goods Transport Agency (GTA)?

GTA or Goods Transport Agency, shall issue a tax invoice which shall contain information as specified under Rule 46 and some additional information such as :

  • The gross weight of the consignment
  • Name of the consignor and the consignee
  • Registration no. of the vehicle
  • Details of goods which are transported
  • Details of place of origin and destination
  • GSTIN of person who is liable to pay tax which may by person sending the goods (Consignor), the person receiving the goods ( Consignee) or GTA

What is the format of Invoice when supply is made for passenger Transport service?

Where the supplier of taxable service is supplying passenger transportation service, a tax invoice shall be issued which include Ticket in any form. In case of passenger transport service, following relaxation is given :

  • Tax invoice is not necessarily required to have a serial number on it.
  • Address of recipient is not required on tax invoice.

Apart from the above two details, tax invoice shall contain all other details mentioned in format of tax invoice under Rule 46.

The ticket may be issued physically or electronically and it may be signed or digitally signed. There is no need for signature in case it is issued electronically.

What is the format of Invoice in case supply is made by Input Service Distributor?

In the case of Input Service Distributor, the invoice or credit must contain the following details which is not required in GST Invoice issued in any other cases:

  • Name, address and GSTIN of the Input Service Distributor
  • Name, address and GSTIN of the recipient to whom credit is distributed
  • Serial no. in one or multiple series but not exceeding 16 characters
  • Date of issue
  • Amount of credit issued
  • Signature or digital signature of the ISD or his authorised representative

Relaxation is given for the tax invoice which is not necessarily required to be serially numbered in case where Input Service Distributor is a :

  • Bank
  • Financial Institution or
  • Non-Banking Financial Company

Tax invoice by taxable person in name of Input Service Distributor

If a taxable person receive some common input services, he can transfer that credit to Input Service Distributor provided

  • ISD and taxable person having same PAN and
  • Both are in same state

The format of tax invoice in above mentioned case shall be in the following format :

  • Name, address and GSTIN of the taxable person
  • Name, address and GSTIN of the Input Service Distributor
  • Serial no. in one or multiple series but not exceeding 16 characters
  • Date of its issue
  • GSTIN of supplier of common service
  • Original Invoice no. whose credit is required to be transferred
  • Taxable value, rate and amount of the credit
  • Signature or digital signature of the taxable person or his authorised representative

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Frequently Asked Questions (FAQs)

Q- Is it mandatory to maintain serial no. on Invoice ?

Serial no. is mandatorily required to maintain on invoice except in case when supplier is a bank, NBC, Insurer, Financial Institution and supplier who is providing passenger transportation service.

Q- Can an unregistered person issue Tax Invoice?

Tax invoice can be issued by a registered person only

Q- Can we claim the input tax credit without Tax invoice

To claim the input tax credit under GST, it is mandatory to have Tax invoice.

Q-Under which circumstances, tax invoice is not required to be issued ?

Tax Invoice is not required to be issued in case value of supply is less than Rs. 200/-.

CA Abhishek Soni
CA Abhishek Soni

Abhishek Soni is a Chartered Accountant by profession & entrepreneur by passion. He is the co-founder & CEO of Tax2Win.in. Tax2win is amongst the top 25 emerging startups of Asia and authorized ERI by the Income Tax Department. In the past, he worked in EY and comes with wide industry experience from telecom, retail to manufacturing to entertainment where he has handled various national and international assignments.