Can we maintain multiple invoice series in GST?

As per the GST advisory, “Attention of all taxpayers is invited to Rule 46 (b) of the CGST Rules 2017, which specifies that the tax invoice issued by a registered person should have a consecutive serial number, not exceeding sixteen characters, in one or multiple series, containing alphabets or numerals or special …

Can we change invoice series in GST?

You can revise invoices issued before GST. Under the GST regime, all the dealers must apply for provisional registration before getting the permanent registration certificate. This applies to all the invoices issued between the date of implementation of GST and the date your registration certificate has been issued.

Is Bill number and GST number the same?

The bill issued by registered sellers always consists GSTIN number and shows break-up of CGST and SGST. But, it can be possible that unregistered business can charge the GST and doesn’t transfer it to the government, so be aware of the GSTIN number, whoever charging GST checking the GSTIN is important.

Is it mandatory to start fresh series of invoice in every financial year?

The relevant Rule 46 of the CGST Act dones not mandate the registered dealers to start a new invoice series for the new financial year. They can continue their existing invoicing numbering (or) if they wish to start a New series, they can do so as per their choice.

Can we raise invoice without GST number?

Create Invoices: GST Invoice Rules for Start-ups in India Any business with an annual turnover threshold exceeding five lakhs is required to register under VAT. Likewise, businesses with a turnover exceeding the threshold limit of 40 lakhs in a financial year must follow the compulsory registration under GST.

Can I change invoice number in Gstr 1?

Amendment can be made in the later tax period also but the date of revised amended invoice date must be the last date of the original invoice tax period. For example, if an original invoice dated 12/07/2021 is being amended in August then the amended invoice date cannot be later than 31/07/2021.

Is it mandatory to maintain invoice serial number?

Is It Mandatory To Maintain Invoice Serial Number? Yes, as per the GST invoice rules it is mandatory to maintain invoice serial number through-out the financial year.

What is the maximum Same with GST invoice?

As per rule 46 of the Central Goods and Service Tax Rules, 2017, the length of the GST invoice number should not exceed 16 characters, which means, that the GST invoice number can be maximum up to the length of 16 digits.

How do you maintain invoice series in GST?

1. The tax invoice should be numbered consecutively;
2. The consecutive serial number should not exceed 16 characters;
3. The consecutive serial number should be containing alphabets or numerals or special characters;
4. The consecutive serial number should be unique for a financial year;

What are the new invoice rules under GST?

The new invoice rules under GST can help to curb fake invoices. The suppliers exploited the old rules to deliver their services and goods to avoid taxes. They would supply at lower rates, without any receipt, to the buyer. The invoices for these transactions get generated in the name of a third party for tax purposes.

Can we use two series of tax invoices for two units?

We have already used two series of tax invoice for two unit. Now next year i.e. 2018-19 , we started new ERP software wherein system generated two different series of tax invoice i.e. one for Supply of Goods and other Supply of Service.

How will GST affect service providers in more than one state?

But, if you are a service provider in more than one state, and I believe, the majority would have operations in multiple states; in that case it would be hugely different under GST. Service providers now have to grapple with a completely new set of facts.

Is branch transfer taxable under the GST regime?

The taxable event under the GST regime is the Supply as defined u/s 7 of the CGST Act, 2017. It has nothing to do with the value addition or anything. The taxable event is purely ‘supply’ only. And the provision which makes the branch transfer as taxable is the Section 7 (1) (c) of the CGST Act, 2017.