What is the time limit to issue invoice for the supply of service?
What is the time limit to issue invoice for the supply of service?
Jeeba Jul. 10, 2018
As per section 31 of the act, a registered person shall, 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.
In case of a registered person liable to pay tax on reverse charge basis is also required to issue invoice on the date of receipt of goods or services or both.
Banking and Insurance companies should issue invoice within a period of 45 days.
