Self Invoicing under GST👨‍✈️#taxupdate #gst #reels #shortsfeed #shorts #viralshorts #compliance

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Self Invoicing under GST👨‍✈️
Self-invoicing is a process under GST where the recipient of goods or services generates an invoice on behalf of the supplier when the supplier is unregistered and the recipient is liable to pay GST under Reverse Charge Mechanism (RCM).

Section 31(3)(f) in The Central Goods and Services Tax Act, 2017
(f) a registered person who is liable to pay tax under sub-section (3) or sub-section (4) of section 9 shall issue an invoice in respect of goods or services or both received by him from the supplier who is not registered on the date of receipt of goods or services or both;

The format of Invoice is prescribed in Rule 46.

As per Rule 47A, recipients are required to issue tax invoices within 30 days from the date of receipt of the goods or services. The rule aims to ensure timely compliance with Section 31 (3) (f) of the CGST Act and streamline tax administration by reducing delays in invoicing.

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