The Central Board of Indirect Taxes and Customs (CBIC) has notified a special procedure for taxpayers for issuance of e-Invoices in the period October 1, 2020 to October 31, 2020.
The Board empowered under section 148 of the Central Goods and Services Tax Act, 2017 notifies the registered persons required to prepare the tax invoice in the manner specified under sub-rule (4) of rule 48 of the Central Goods and Services Tax Rules, 2017, who have prepared tax invoice in a manner other than the said manner, as the class of persons who shall, during the period from the 1st day of October, 2020 to the 31st day of October, 2020, follow the special procedure such that the said persons shall obtain an Invoice Reference Number (IRN) for such invoice by uploading specified particulars in FORM GST INV-01 on the Common Goods and Services Tax Electronic Portal, within thirty days from the date of such invoice, failing which the same shall not be treated as an invoice.
Rule 48(4) deals with the manner of issuing invoice which says that invoice shall be prepared by such class of registered persons as may be notified by the Government, on the recommendations of the Council, by including such particulars contained in FORM GST INV-01 after obtaining an Invoice Reference Number by uploading information contained therein on the Common Goods and Services Tax Electronic Portal in such manner and subject to such conditions and restrictions as may be specified in the notification.
GST INV-01 must be uploaded into the portal so as to generate the Invoice Reference Number (IRN), which is an alternative to the conventional system of invoicing wherein an original invoice is maintained by the buyer, a duplicate is issued to the transporter, and triplicate to the seller.
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