Last date simply means deadline for doing an task or activity. In terms of last date for Issuance of Invoice means upto when Invoice is required to be issued.
Under GST Law, Provision related to last date of issuance of invoice is also used for the determination of Time of Supply i.e. event when person is required to pay GST Liability to Government. Under this edition we emphasis only on the “LAST DATE OF ISSUANCE OF INVOICE”, The provisionrelated to “TIME OF SUPPLY” will be covered in our upcoming edition. Therefore, for better understanding, please be a continuous reader of our GST Implementation Series.
Under GST Law, Last date is specified for the issuance of invoices in different type of supplies, for ease of understanding below diagram explained the provision related to last date for Issue of Invoice.
| Invoice |
| Service | Goods |
| In other Case | Between Distinct Person | Supplier is Banking Company Financial Institution NBFC | In other cases | In case of Movement of Goods |
| within 30 Days | (i)Before or at time of accounting
(ii) Before the expiry of quarter of supply | with in 45 Days from supply of service | On or before, Date of Delivery | On or before, Date of Removal |