Invoice by Bank, FI, NBFC or telecom company to their branch in other State :
Where the supplier of services is an insurer or a banking company or a financial institution or NBFC, or a telecom operator, or any other class of supplier of services as may be notified by the Government on the recommendations of the Council, making taxable supplies of services between distinct persons as specified in section 25 as referred to in Entry 2 of Schedule I, may issue the invoice before or at the time such supplier records the same in his books of account or before the expiry of the quarter during which the supply was made – second proviso to rule 2 of Invoice Rules.
Thus, Bank, FI, NBFC or telecom company in respect of services provided to their branch in other State can issue invoice on quarterly basis.