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Effective 1st April 2019, Reset the Invoice number series: GST Advisory

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Effective 1st April 2019, Reset the Invoice number series: GST Advisory

Rule 46 (b) of the CGST Rules 2017 suggests that any tax invoice should have a 16 character alpha-numeric invoice number unique for a financial year. This draws attention, now that we are entering a new Financial Year – 2019-2020.

The GSTN has issued an advisory to this regard –

“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 characters - hyphen or dash and slash symbolized as “-” and “/” respectively, and any combination thereof, unique for a financial year.

This rule implies that with the start of new financial year 2019-20 (w.e.f. 01/04/2019), a new invoice series, unique for the financial year is to be started by the GST taxpayers. Similar provision is there in Rule 49 of the CGST Rules 2017, in respect of issue of Bill of Supply by registered taxpayers availing Composition Scheme or supplying exempted goods or services or both.

If the provisions of Rule 46 or Rule 49 are not adhered to, apart from being a compliance issue, taxpayers may face problem while generating E-Way Bill on E-way bill system or furnishing their Form GSTR 1 or for applying for refund on GST Portal. It is therefore necessary that suitable modification may be made by the taxpayers in this regard in their invoices or bill of supply, to avoid any inconvenience in the future.

Thanks,
Team GSTN”

https://www.gst.gov.in/newsandupdates/read/263

This is important considering the fact that the entire GST system is based on the invoice number. The invoice number is the unique code for every transaction happening in the business. Also, the uniqueness has to be there to identify transactions for a particular Financial Year as well. Hence, it is advisable to reset your invoice numbers to 19-20 from 18-19. This will help to have invoice numbers unique to the financial year.

The CHAPTER VI of the CGST Rules 2017 deals with the TAX INVOICE, CREDIT AND DEBIT NOTES preparation rules. Rule 46 under the same suggests that a tax invoice shall be issued by the registered person containing the following particulars, namely,-

  1. Name, address and Goods and Services Tax Identification Number of the supplier;
  2. A consecutive serial number not exceeding sixteen characters, in one or multiple series, containing alphabets or numerals or special characters hyphen or dash and slash symbolized as “-” and “/” respectively, and any combination thereof, unique for a financial year;
  3. Date of its issue;
  4. Name, address and Goods and Services Tax Identification Number or Unique Identity Number, if registered, of the recipient;
  5. Name and address of the recipient and the address of delivery, along with the name of the State and its code, if such recipient is un-registered and where the value of the taxable supply is fifty thousand rupees or more;
  6. Name and address of the recipient and the address of delivery, along with the name of the State and its code, if such recipient is un-registered and where the value of the taxable supply is less than fifty thousand rupees and the recipient requests that such details be recorded in the tax invoice;
  7. Harmonized System of Nomenclature code for goods or services;
  8. Description of goods or services;
  9. Quantity in case of goods and unit or Unique Quantity Code thereof;
  10. Total value of supply of goods or services or both;
  11. Taxable value of the supply of goods or services or both taking into account discount or abatement, if any;
  12. Rate of tax (central tax, State tax, integrated tax, Union territory tax or cess);
  13. Amount of tax charged in respect of taxable goods or services (central tax, State tax, integrated tax, Union territory tax or cess);
  14. Place of supply along with the name of the State, in the case of a supply in the course of inter-State trade or commerce;
  15. Address of delivery where the same is different from the place of supply;
  16. Whether the tax is payable on reverse charge basis; and
  17. Signature or digital signature of the supplier or his authorized representative:
IRIS Business is a leading GST Suvidha Provider (GSP) providing an easy and efficient solution for GST (IRIS Sapphire) and E-way bill (IRIS Topaz) compliance. To have your GST queries solved and to know more about our solution, please contact us at support@irisgst.com

About Vaishali Dedhia

Vaishali

Vaishali Dedhia, a Chartered Accountant, has been working with IRIS for over 7 years and is currently the lead Functional Analyst and Subject Matter Expert for IRIS' GST offerings. She has also been assisting the clients in return filing related queries. Prior to GST, she was involved in compliance and data analysis for the US markets. In her leisure time, Vaishali likes reading novels, listening music and hanging around with friends, family.

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Comments

Jagan 3 months ago

Can we start Invoice no. from 10001 or 20001 or it has to be started from 1.

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Vaishali Dedhiya 3 months ago

Yes invoice no can be started with 10001 or 20001. It is not
necessary to start with 1. Invoice number can also comprise of alphabets hence it can also start with A001 etc. However, it is advisable to have Financial Year details in the invoice number like 201819/ 1819 etc for easy identification at a later stage.

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Renuka 2 months, 4 weeks ago

I have one query, if some MNC companies follow financial year from January to December and they also follow the invoice series number 01 from January. In this case what they do? Please guide.

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Vaishali Dedhia 2 months, 3 weeks ago

The expression financial year has not been defined under the GST laws. However, in terms of the General Clauses Act “financial year” shall mean the year commencing on the first day of April and closing on the 31st day of March.

GST Invoicing rules says “a consecutive serial number not exceeding sixteen characters, in one or multiple series, containing alphabets or numerals or special characters hyphen or dash and slash symbolised as ?-? and ?/? respectively, and any combination thereof, unique for a financial year.

Based on the above provision we understand that in GST a registered person should maintain a consecutive serial number for Invoice from 1st April to 31March.

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sushil 2 months, 2 weeks ago

i have issued GST bill Till 31-3-2019 bill No. 8857 Now if i will issue bill from 1-4-2019 bill no. 8857 or 9001 Kindly confirm

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Current rating: 5

Sam Thakkar 2 months ago

query example : -If issued some one invoice no. 12 and 13 in dt. 01.05.2019, after the buyer accepted material of 13 no invoice. and he cancelled order for invoice no 12. after some days customer given again order to us. then now can we issue invoice no. 12 in current date like 17.05.2019.? there is different date. but i have missing invoice no. 12

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Vaishali Dedhia 2 months ago

If an invoice is already issued and then cancelled, then that invoice number is no longer reusable as that is a cancelled invoice. A new invoice number is to be issued. Thus in above example, invoice no.12 is not missing invoice, it is cancelled invoice. Also if you see document details section GSTR1 where you have to report invoice series there is one column which has count of total invoices issued, then count of invoices cancelled and then count of net invoices.

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sushil 1 month, 2 weeks ago

i have issued GST bill Till 31-3-2019 bill No. 8857 Now if i will issue bill from 1-4-2019 bill no. 8857 or 9001 Kindly confirm

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raj kumar dugar 1 month, 1 week ago

We issue bill in different series for different services, now we have bill no ABC0005 , BCD0005 & CDE0005 all in one particular month in B2B with three different recipient.

The GSTN is showing error that, "Invoice already exists with different CTIN or same CTIN. Please delete the existing invoice and upload again."

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TNGANESHAN 1 month ago

PLEASE LET US KNOW THIS TYPE OF SL NO. IS OKAY FOR FILING GSTR1
24AABCM4381J1ZG MELG/122/19-20 13-May-19 20060.00
24AABCM4381J1ZG MELG/123/19-20 13-May-19 40120.00
24AAAAG5588Q1Z2 MELG/122A/19-20 15-May-19 9440.00
24AAAAG5588Q1Z2 MELG/123A/19-20 15-May-19 84960.00
COULD YOU PLEASE CONFIRM

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Jithin Gopalakrishnan 2 weeks ago

I am a Service provider This month I get GST registration. My doubt is Can I continue the invoice number before GST I used to continue after GST Registration

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