CGST Rules Rule 47 — Time limit for issuing tax invoice
CGST Rules, 2017 · Time limit for issuing tax invoice
Quick Answer
Rule 47 of the CGST Rules, 2017 governs Time limit for issuing tax invoice. It establishes the detailed procedural framework and compliance requirements necessary to implement the corresponding provisions of the CGST Act. Rule 47 CGST: Time limit for issuing tax invoice — eligibility, conditions, case laws and compliance impact under Indian tax law.
Provided that where the supplier of services is an insurer or a banking company or a financial institution, including a non-banking financial company, the period within which the invoice or any document in lieu thereof is to be issued shall be forty five days from the date of the supply of service:
Provided further that an insurer or a banking company or a financial institution, including anon-banking financial company, or a telecom operator, or any other class of supplier of services as may be notified by the Government on the recommendations of the Council, making taxable supplies of services between distinct persons as specified in section 25, may issue the invoice before or at the time such supplier records the same in his books of account or before the expiry of the quarter during which the supply was made.
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CGST Rules Rule 47 was introduced as part of the CGST Rules, 2017.