Time Limit to Issue GST Invoices

Under GST there are time limits to issue GST invoices, credit notes, and debit notes. So, to stay GST compliant you need to issue GST invoices within the time limit prescribed under the GST law. 

Time Limit to Issue GST Invoices 

Time Limit to Issue GST Invoice in Case of Supply of Goods 

Every taxpayer who supplies goods needs to issue a GST invoice with the item details, taxable value, quantity, and any other particular as may be prescribed. The time limit to issue GST invoice in case of the supply of goods are: 

When there is Movement of Goods 

In this case, the supplier needs to issue the GST invoice before the movement of goods. In simple words, a GST invoice must be issued by the taxpayer before the goods are delivered to the recipient.  

When there is No Movement of Goods 

In this case, the supplier needs to issue the GST invoice on or before the goods are delivered to the recipient. 

Time Limit to Issue GST Invoice in Case of Supply of Services 

Time Limit to Issue GST Invoice in Case of Supply of Services is before or after the service is rendered. However, in a case, if the invoice is issued after the service is supplied, then the taxpayer needs to issue it within 30 days from the date of service supplied. The time limit extends to 45 days in case if the service is rendered to any of the following service providers: 

1. Insurance Company 
2. Banking Company 
3. Financial institution 
4. Non-Banking Financial Institution 

Time Limit to Issue Credit Note and Debit Note 

Before moving straight to the time limit to issued credit and debit note, first, we need to understand when a taxpayer issues Credit Note or Debit Note: 

Credit notes and debit notes are issued by the taxpayer in the case when goods or/and services are returned or when there is any amendment in the invoice value. 

Let us understand the applicability of Credit note and Debit note in layman language: 

1. When the invoice value decreases, the taxpayer needs to issue a credit note. 
2. When the invoice value increases, the taxpayer needs to issue a debit note. 

Time Limit to Issue Debit or Credit Note 

The taxpayer needs to issue debit or credit notes, from any of the dates that follow earlier 

• On or before 30 September in an FY following the year in which the goods or/and services were supplied or  
• On or before the date on which the taxpayer files his annual GST returns for the FY. 

Let us understand this with an example 

In case if the taxpayer files his annual GST return on 31st Dec 2022, then the time limit to issue a debit note or credit note will be 31st Dec. 

How Can GSTrobo® Help You? 

GSTrobo® a division of Binary Semantics Ltd is one of the leading ASP- GSP who provides industry-leading GST compliance software such as GST, e-way bill, and e-invoicing software. These solutions not only automate most of your GST compliance but also helps you to stay GST compliant.