Revised Tax Invoice: A revised tax invoice in terms of the GST Law is different from what is construed to be a revised tax invoice in common parlance. Therefore, it is made abundantly clear that there is NO provision under the GST Law for a registered person to revise a tax invoice which was issued earlier, on account of errors /mistakes in the original tax invoice.
a. Why a revised tax invoice?
A person should apply for registration within 30 days of becoming liable for registration under Section 25(1) of the CGST Act. When such an application is made within such time and registration is granted, the effective date of registration is the date on which the person became liable for registration, thereby resulting in a time lag between the date of grant of certificate of registration and the effective date of registration. For supplies made by such person during this intervening period, the law enables issuance of a revised tax invoice, so that ITC can be availed by the recipient on such supplies.
b. Accordingly, a revised invoice (carrying the details as specified in Rule 53) may be issued for supplies effected between the effective date of registration and the date of issue of registration certificate.
c. The GST Law provides for issuance of a consolidated revised tax invoice in case of supplies to unregistered persons (other than in case of inter-State supplies where the value of supply exceeds Rs.2.5 Lakhs), in respect of all taxable supplies made to each recipient, separately.
d. If issued, it must be issued within one month from the date of registration.