In the case of supply of services, the invoice has to be issued as follows, within the mentioned time.
- Within 30 days from the actual supply
- In case of continuous supply where due date can be ascertained, then 30 days from such due date
- In case of continuous supply where due date cannot be ascertained, then 30 days from actual payment date
- In case of cessation of supply before the contract ends, then at the time of such cessation.
The due date of 30 days is 45 days in case of banks and other financial institutions.
These invoices have to be issued in TRIPLICATE in the case of supply of goods, original for the recipient, duplicate for the transporter and triplicate copy for the supplier. Likewise, in case of supply of services, the invoices have to be issued in DUPLICATE, where the original will be meant for the recipient and the duplicate copy will be for the supplier.
The Government of India has come out with a sample GST Invoice format. A sample format is shown below. It is better to issue invoices on the same lines as the example since your Input Tax Credit largely depends on the Invoice Number and its proper reporting. The serial number of the invoice forms the basis of mismatch or matching the invoices between the supplier and the receiver, giving a seamless, hassle-free credit flow.