There are lot of queries regaring the numbering of the Invoices at the Start of the Financial year under GST.
Many people ask is it mandatory to start a new series of invoice numbering at the start of a Financial year under GST?
The relevant Rule 46 of the CGST Act dones not mandate the registered dealers to start a new invoice series for the new financial year.
They can continue their existing invoicing numbering (or) if they wish to start a New series, they can do so as per their choice.
As per Rule 46, a Tax Invoice should contain the following particulars :-
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 (HSN) 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