GST Invoicing 4.6: 15 MCQs with answers

D · Section 31

Section 31 of the CGST Act, 2017 mandates that every registered supplier must issue a tax invoice for supplies made.

A · 30 days

As per the source, for services, the invoice must be issued within 30 days (or 45 days for financial services).

A · Composition dealers or for exempt supplies

A bill of supply is issued by composition dealers or for exempt supplies, and no GST is charged on it.

C · Receipt Voucher

A receipt voucher is issued for advance payments received before the supply is made.

A · Three

For goods, invoices are issued in triplicate: Original for Recipient, Duplicate for Transporter, and Triplicate for Supplier.

C · Duplicate

For services, invoices are issued in duplicate: Original and Duplicate.

B · Credit Note

A credit note is used for downward revision in taxable value or tax amount.

B · False

Composition dealers issue a bill of supply, not a tax invoice, for their supplies.

A · True

As per the source, e-invoicing is mandatory for B2B invoices for businesses with turnover over Rs 5 crore.

C · Name and address of the recipient's bank

Rule 46 mandates supplier details, serial number, HSN/SAC, etc., but the recipient's bank details are not listed as mandatory.

C · Before actual sale or within 6 months

For supply on approval, the invoice must be issued before actual sale or within 6 months, as per the source.

C · Rs 5 crore

As per the source, businesses with turnover over Rs 5 crore must issue e-invoices by generating an IRN.

D · 1 month from registration

As per Rule 53, revised tax invoices must be issued within 1 month from the date of registration.

B · A provisional commercial invoice can be issued without GST

Before registration, a business can issue a provisional commercial invoice without charging GST, but cannot charge GST retroactively.

D · 30 days before the date of application

Section 18(1)(a) allows ITC on purchases made up to 30 days before the date of application for registration.