1. INVOICING By CA Shubham Khaitan
B.COM (Honours), ACA, ACS, CFA(USA), DISA (ICAI)
Partner - Tax & Regulatory, S. Khaitan & Associates
ID:
Phone No ,
Website:

2. Date of issuance of invoice
Goods
Supply involves movement
Removal of goods for supply to recipient
Supply does not involve movement
Making available of goods to recipient
Services
Banks/FIs/NBFCs (Outside Persons)
45 days from the supply of service
Others
30 days from the supply of service
Shubham Khaitan [B.Com(Hons),ACA,ACS,CFA(USA),DISA(ICAI)]

3. Continuous supply of goods
Date of issuance of invoice
Where successive statement of accounts is involved
Before/At the time when each statement is issued
Where successive payment is involved
Before/At the time when each supply payment is received
Shubham Khaitan [B.Com(Hons),ACA,ACS,CFA(USA),DISA(ICAI)]

4. Continuous supply of Services
Date of issuance of invoice
Where due date of payment is ascertainable from the contract
On or before the due date of payment
Where due date of payment is not ascertainable
Before/at the time of receipt of payment
Where payment is linked to completion of an event
On or before the date of completion of event
Shubham Khaitan [B.Com(Hons),ACA,ACS,CFA(USA),DISA(ICAI)]

5. Supply of services ceases before completion of supply
Date of cessation of supply and invoice to be issued to the extent of supply
Goods sent or taken on approval for sale or return
Time of supply or six months from the date of removal whichever is earlier
Shubham Khaitan [B.Com(Hons),ACA,ACS,CFA(USA),DISA(ICAI)]

6. Reverse Charge / Inward Supply from Unregd dealers
Payment by the recipient
Supply by an unregistered to a registered person
Reverse Charge
On the date of receipt of goods or services
At the time of making payment
Recipient to issue an invoice
Recipient to issue a payment voucher
Shubham Khaitan [B.Com(Hons),ACA,ACS,CFA(USA),DISA(ICAI)]

7. Advance payment against supply
On receipt of advance
Supply made against that advance
Tax Invoice to be issued
No supply made and no Tax invoice issued
Person who had paid advance to issue a refund voucher
Person receiving the advance to issue a receipt voucher
Shubham Khaitan [B.Com(Hons),ACA,ACS,CFA(USA),DISA(ICAI)]

8. Debit / Credit note Debit / Credit Note Taxable Value / Tax Charged
> Taxable Value/ Tax payable on the supply
Credit Note to be issued and declared in the return for that month (Earlier of Sept of next FY or Due date of Annual Return)
Reduction in tax liability not permissible if incidence passed to any other person
< Taxable Value/ Tax payable on the supply
Debit Note to be issued and declared in the return for that month
Shubham Khaitan [B.Com(Hons),ACA,ACS,CFA(USA),DISA(ICAI)]

9. Transportation upon issue of delivery challan
Supply of liquid gas where the quantity at the time of removal is not known
Transportation of goods for job work
Transportation of goods for reasons other than by way of supply
Such other supplies as may be notified by the Board
Shubham Khaitan [B.Com(Hons),ACA,ACS,CFA(USA),DISA(ICAI)]

10. Documents in lieu of tax invoice
Bill of supply in case of Composition / Exempt Dealers
ISD invoice to be issued by an Input Service Distributor
Tax invoice without Serial and Address of recipient by Banks / FIs / NBFCs
Consignment note in case of goods transport agency
Tickets in case of transportation of passengers
Shubham Khaitan [B.Com(Hons),ACA,ACS,CFA(USA),DISA(ICAI)]

11. Few Key fields in the invoice
Address of unregistered recipient (if Value of Invoice > Rs. 50,000)
HSN code of goods / SAC code of services
Place of supply
Break up of CGST and SGST for intra state and IGST for inter-state supplies
Signature or digital signature of the supplier
Shubham Khaitan [B.Com(Hons),ACA,ACS,CFA(USA),DISA(ICAI)]

12. Transportation in SKD/CKD condition
Complete invoice before dispatch of the first consignment
Each consignment sent with delivery challan and certified copy of invoice
Original copy of the invoice sent with the last consignment
Shubham Khaitan [B.Com(Hons),ACA,ACS,CFA(USA),DISA(ICAI)]

13. Shubham Khaitan [B.Com(Hons),ACA,ACS,CFA(USA),DISA(ICAI)]
Copies of invoices
Three copies of invoices i.e. Original for recipient, Duplicate for Transporter and Triplicate for Supplier
In case of goods
Two copies of invoices i.e. Original for Recipient and Duplicate for Supplier
In case of services
Shubham Khaitan [B.Com(Hons),ACA,ACS,CFA(USA),DISA(ICAI)]

14. Name: CA Shubham Khaitan
SPEAKER
Name: CA Shubham Khaitan
Qualification: B.COM (Hons), ACA, ACS, CFA (USA), DISA (ICAI)
Designation: Partner – Tax & Regulatory
Firm name: S. Khaitan & Associates,
Chartered Accountants
CONTACT
Address: Mookerjee House, 17, Brabourne Road
2nd Floor, Kolkata –
Phone: ,
Website: