For Supply of Goods:
before or at the time of
(a) removal of goods for supply to the recipient, where supply involves movement of goods or
(b) delivery of goods or making available thereof to the recipient in other cases.
for supply of Services
before or after the provision of service, but within a period of 30 days from the date of supply of service, issue a tax invoice showing description, value of goods, tax payable thereon and other prescribed particulars.For Banking and Insurance companies, this period is 45 days.
Case involving continuous supply of goods
where successive statements of accounts or successive payments are involved, the invoice shall be issued before or at the time each such statement is issued or, as the case may be, each such payment is received.
Case involving continuous supply of services
In case of continuous supply of services,
(a) where the due date of payment is ascertainable from the contract, the invoice shall be issued on or before due date of payment.;
(b) where the due date of payment is not ascertainable from the contract, the invoice shall be issued before or at the time when the supplier of service receives the payment.;
(c) where the payment is linked to the completion of an event, the invoice shall be issued on or before the date of completion of that event
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