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Is it mandatory to start New invoice series for FY 2021-22 under GST?

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