Rule 47. Time limit for issuing tax invoice.-
The invoice referred to in rule 46, in the case of the
taxable supply of services, shall be issued within a period of thirty days from
the date of the supply of service:
Provided that where the supplier of services is an
insurer or a banking company or a financial institution, including a
non-banking financial company, the period within which the invoice or any
document in lieu thereof is to be issued shall be forty five days from the date
of the supply of service:
Provided further that an insurer or a banking company
or a financial institution, including anon-banking financial company, 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, 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.
