ISSUE OF TAX INVOICE IN SPECIFIC CASES
By: – Dr. Sanjiv Agarwal
Goods and Services Tax – GST
Dated:- 17-12-2016<\/p>\n
Tax Invoice by Input Service Distributor (ISD)
\nUnder section 17 of the model GST law, an Input Service Distributor (ISD) has to issue a prescribed document to distribute the credit. As per explanation to section 23 of model GST law dealing with tax invoice, it has been clarified that the expression 'tax invoice' shall be deemed to include a document issued by an Input Service Distributor under section 17. Thus, an ISD will issue a document which will deemed to be a tax invoice.
\nAccording to Rule 5(1) of draft GST Invoice Rules, tax invoice issued by an Input Service Distributor(ISD) shall contain the following details:
\n * name, address and GSTIN of the Input Service Distributor(ISD),
\n * a consecutive serial number containing only alphabets and\/or numerals, unique for a financial year,
\n * date of its issue,
\n * following details:
\n * name,
\n * address,\n <\/p>\n
= = = = = = = =<\/p>\n
Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n ibed particulars in lieu of tax invoice then such documents shall be considered as tax invoice for supplies made by taxable person. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n the consignee, = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n ection 17 of Model GST Act are reproduced as below: = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n","protected":false},"excerpt":{"rendered":" ISSUE OF TAX INVOICE IN SPECIFIC CASESBy: – Dr. Sanjiv Agarwal Goods and Services Tax – GSTDated:- 17-12-2016 Tax Invoice by Input Service Distributor (ISD) Under section 17 of the model GST law, an Input Service Distributor (ISD) has to issue a prescribed document to distribute the credit. As per explanation to section 23 of … Continue reading “ISSUE OF TAX INVOICE IN SPECIFIC CASES”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-2031","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/2031","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2031"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/2031\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2031"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2031"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2031"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
For full text:-Visit the Source <\/a><\/p>\n
\nTax Invoice by Banking Company \/ Financial Institution \/ Non-banking Financial Company (NBFC)
\nAccording to Rule 5(2) of draft GST Invoice Rules, where supplier of taxable service is a banking company or a financial institution including a non-banking financial company, such supplier shall issue a tax invoice or any other document in lieu thereof, by whatever name called, whether or not serially numbered, and whether or not containing the address of the recipient of taxable service but containing other information as prescribed under Rule 1 of draft GST Invoice Rules.
\nTherefore, where the taxable person is banking company or a financial institution including a NBFC, issues documents containing prescribed particulars in lieu of tax invoice, then such documents shall be considered as tax invoice for supplies made by taxable person.
\nTax Invoice by Goods T<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
\n * registration number of goods carriage in which the goods are transported,
\n * details of goods transported,
\n * details of place of origin and destination,
\n * GSTIN of the person liable for paying tax whether as consignor, consignee or goods transport agency, and
\n * other prescribed information.
\nIt should also contain other information as prescribed under Rule 1.
\nTax Invoice by Passenger Transportation Service Provider
\nAccording to Rule 5(4) of draft GST Invoice Rules, where supplier of taxable service is supplying passenger transportation service, a tax invoice shall include ticket in any form, by whatever name called, and whether or not containing the address of the recipient of service, but containing other information as prescribed under Rule 1. Thus, passengers tickets can also be considered as a tax invoice.
\n Reply By Ganeshan Kalyani as =
\nNice article sir. Even in the current tax regime the ingredient that an invoice should contain in enumerated in th<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
\n'(1) The Input Service Distributor may distribute, in such manner as may be prescribed, the credit of CGST as IGST and IGST as IGST, by way of issue of a prescribed document containing, inter alia, the amount of input tax credit being distributed or being reduced thereafter, where the Distributor and the recipient of credit are located in different States.
\n (CGST ACT)
\n(1) The Input Service Distributor may distribute, in such manner as may be prescribed, the credit of SGST as IGST, by way of issue of a prescribed document containing, inter alia, the amount of input tax credit being distributed or being reduced thereafter, where the Distributor and the recipient of credit are located in different States.
\n (SGST ACT)'
\nFurther, at the time of writing this article, old model GST law was in force. As per revised model GST law, section 28 deals with provision related to tax invoice.
\nThanks and Regards,
\nSanjay Kumawat
\n Dated: 19-12-20<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n