How to Revise GST Tax Invoice ?

This document covers

1. Threshold Limit
2. Time Limit to apply GST registration
3. Invoices issued before date of GST registration

1. Threshold Limit

In a fiscal year, the threshold limit for GST registration is Rs 20 lakhs. However, in certain states, the registration fee is reduced to Rs 10 lakhs.

The threshold requirement for various states are as follows

2. Time Limit to apply GST registration

The taxpayer needs to register for GST within 30 days from the date on which his turnover exceeds the threshold.

3. Invoices issued before date of GST registration

The taxpayer registered under GST would issue the invoices with the GSTIN after getting registered, show them in their GST returns, and pay the GST.

But there would be a time lag between the date of application for registration (the "effective date of registration") and the date of the GST registration certificate. To avoid revenue loss and ensure compliance, the government has implemented the concept of the "Revised Tax Invoice".

1. In these cases, the taxpayer can issue the "Revised Tax Invoice" within 1 month from the date of the registration certificate.
2. Revised tax invoices will be given against the original invoice so that they can show the invoices in GST returns, pay GST, and enable their B2B customers to claim ITC.
3. The words "Revised Tax Invoice" should be mentioned on the invoice.