Rule 46 (b) of the CGST Rules 2017 for Issuing Invoice in GST
According to Rule 46 (b) of the CGST Rules 2017, it has been specified that the tax invoice issued by a registered person
1. should have a consecutive serial number,
2. not exceeding 16 characters
3. in one or multiple series
4. containing alphabets or numerals or special characters and any combination thereof unique for a financial
This rule implies that with the start of new financial year 2019-20 (w.e.f. 01/04/2019), a new invoice series, unique for the financial year is to be started by the GST taxpayers.
Similar provision is there in Rule 49 of the CGST Rules 2017, in respect of issue of Bill of Supply by registered taxpayers availing Composition Scheme or supplying exempted goods or services or both.
If the provisions of Rule 46 or Rule 49 are not adhered to, apart from being a compliance issue, taxpayers may face problem while generating E-Way Bill on E-way bill system or furnishing their Form GSTR 1 or for applying for refund on GST Portal.
It is therefore necessary that suitable modification may be made by the taxpayers in this regard in their invoices or bill of supply, to avoid any inconvenience in the future.