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Compliance Requirements under Section 31 & 33 of the CGST Act, 2017

Background

Section 31 of the CGST Act, 2017 lays down the legal requirement for issuing a tax invoice for every taxable supply of goods or services, forming the foundation for tax liability and Input Tax Credit flow. Rule 46 supplements this by prescribing the mandatory particulars that a GST invoice must contain, ensuring uniformity, traceability, and compliance across businesses. Rule 47 further completes the framework by specifying the time limits for issuing invoices particularly relevant for services so that tax events, accounting, and ITC eligibility remain properly sequenced. Together, these provisions establish a standardized system of documentation essential for transparency, auditability, and smooth functioning of the GST regime.

Applicability

Section 31, Rule 47 of CGST Act, 2017 shall be applicable to:

All registered Service Providers under GST
All registered taxpayers (Insurer / Banking Company / Financial Institution / NBFC) under GST
All registered taxpayers supplying taxable goods

Compliance Requirements

Issue of Tax Invoice within 30 days from the date of supply of service (Section 31, Rule 47)

The tax invoice in the case of the taxable supply of services, shall be issued within a period of 30 days from the date of the supply of service

Issue of Tax Invoice within 45 days from the date of supply of service (Section 31, Rule 47)

The tax invoice in the case of the taxable supply of services by insurer or banking company or financial institution including NBFC, shall be issued within a period of 45 days from the date of the supply of service or before end of quarter during which supply was made

Issue of Tax Invoice before or at the time of removal of taxable goods (Section 31, Rule 46)

A registered person is required to issue tax invoice in prescribed format before or at the time of removal of goods for supply to the recipient

Amount of tax to be indicated in tax invoice and other documents (Section 33, Rule 46)

In case any supply is made for a consideration, the tax amount which shall form part of the price at which such supply is made, is required to be prominently indicated in tax invoice and all other documents related to assessment.

Penalty & Punishment

Section 122(1)(ii): Penalty for certain offences.-Where a taxable person who issues any invoice or bill without supply of goods or services or both in violation of the provisions of this Act or the rules made thereunder may result in penalty of Rs.10000/- rupees or the amount of tax evaded, whichever is higher.

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