This guide provides detailed information on the time limits for issuing invoices, bills of supply, debit notes, and credit notes under GST for FY 2025-26. Stay compliant with the latest tax regulations.
Time Limit for Issuing Tax Invoices
Time Limit for Issuing Credit and Debit Notes
FAQs on GST Invoice Time Limits
Understand the deadlines for issuing tax invoices under various scenarios in GST.
Supply of Goods in Normal Cases
For the supply of goods involving movement, the invoice must be issued on or before the removal of goods.
Invoice must be issued on or before the date of dispatch.
Example: Dealer A in Delhi dispatches goods to Mumbai; invoice is issued on dispatch date.
Non-movement supply: Invoice issued on delivery date.
Continuous Supply of Goods
For continuous supply, invoices are issued at the time of each statement or payment.
Invoice issued before or at the time of each payment.
Example: Monthly supply contract; invoice issued with each payment.
Aligns with Section 31 of the CGST Act.
Worked Example: Tax Invoice Calculation
Illustration of tax invoice calculation with GST.
Goods worth ₹1,00,000 with 18% GST.
Total invoice amount: ₹1,18,000.
GST component: ₹18,000.
Learn about the deadlines for issuing credit and debit notes under GST.
Issuance Deadline
Credit and debit notes must be issued by November 30 following the end of the financial year.
Deadline: November 30, 2026, for FY 2025-26.
Aligns with Section 34 of the CGST Act.
Earlier of annual return filing or November 30.
Conditions for Issuing Credit Notes
Credit notes cannot be issued if tax incidence is passed to the recipient.
Section 24(1) proviso restricts issuance.
Ensure no tax incidence passed.
Verify recipient acknowledgment.
Worked Example: Credit Note Adjustment
Example of credit note adjustment in GST returns.
Original invoice: ₹1,18,000.
Credit note issued for ₹18,000 GST refund.
Adjusted liability in GSTR-3B.
What is the deadline for issuing a tax invoice for goods?
For goods involving movement, the invoice must be issued on or before the removal of goods. For non-movement, it is on delivery.
When should a credit note be issued under GST?
Credit notes must be issued by November 30 following the end of the financial year or before filing the annual return, whichever is earlier.
Can a credit note be issued after passing the tax incidence?
No, as per Section 24(1), a credit note cannot be issued if the tax incidence has been passed to the recipient.
How is GST calculated on a tax invoice?
GST is calculated on the taxable value of goods/services. For example, on ₹1,00,000 with 18% GST, the total is ₹1,18,000.
What happens if invoices are issued late?
Late issuance can lead to penalties and interest under GST provisions. Compliance with deadlines is crucial.
Are there different rules for continuous supply of goods?
Yes, invoices for continuous supply are issued at the time of each payment or statement, as per Section 31 of the CGST Act.
What is the penalty for late issuance of credit notes?
Penalties vary but can include fines and interest on delayed adjustments in GST returns.
Is there a specific form for issuing credit notes?
No specific form, but details must align with the original invoice and be reflected in GSTR-1 and GSTR-3B.
Can debit notes be issued after annual return filing?
No, debit notes must be issued by November 30 following the financial year or before the annual return filing, whichever is earlier.
How are credit notes adjusted in GST returns?
Credit notes are adjusted in GSTR-1 and GSTR-3B, reducing the tax liability for the period they are issued.