The Institute of Chartered Accountants of India (ICAI) has released a revised edition of its “Handbook on Invoicing under GST”, consolidating the latest provisions, rules, and updates as of 31st May 2025.
The release underscores the pivotal role of invoicing in ensuring GST compliance, facilitating Input Tax Credit (ITC), enhancing transparency, and curbing tax evasion.
Key Highlights
- Updated Guidance: The handbook covers all provisions related to invoicing under GST including tax invoices, bills of supply, debit/credit notes, e-invoicing, and delivery challans.
- Amendments Included: All changes up to May 2025 have been incorporated.
- Practical Relevance: Guidance for businesses on maintaining compliant invoices, e-way bill documentation, and digital payment mandates.
- Structured Approach: Includes step-by-step explanation of documents such as receipt vouchers, refund vouchers, and payment vouchers.
ICAI’s Role
ICAI, through its GST & Indirect Taxes Committee, continues to play a critical advisory role in shaping GST policies. It regularly provides technical inputs to the Government, conducts seminars and training, and issues technical publications to support professionals and businesses.
President’s Note
ICAI President lauded the efforts of the committee, stating:
“Accurate and compliant invoicing facilitates effective tax collection and helps curb tax evasion. This revised edition will be immensely beneficial for professionals and businesses alike.”
Preface Insights
Committee Chairman and Vice-Chairman highlighted that the third revised edition of the handbook serves as a comprehensive guide for GST invoicing, aiding compliance and optimizing financial processes.
What’s Inside the Handbook?
- Part I: Covers invoicing under GST, including types of invoices, amendments, refund vouchers, delivery challans, and reverse charge documents.
- Part II: Dedicated to E-Invoicing, detailing concepts, processes, IRP/QR code, implementation framework, exclusions, and clarifications.
The complete handbook can be accessed at: https://a2ztaxcorp.net/wp-content/uploads/2025/08/HB_Invoicing_under_GST.pdf
