E-Invoicing was introduced in batches from 1 October 2020. Under the new invoicing system, the responsibility of invoice creation and registration of the same with the RCM e invoice Registration Portal (IRP) is that of the Supplier. In other words, the Supplier who collects GST from the recipient/buyer has to generate the IRN and add the Dynamic Quick Response (QR) code to the final invoice that is shared with the recipient/buyer. However, there are a few atypical situations in which transactions may have to be reported under the e invoice for Reverse Charge Mechanism (RCM). Here the recipient has to generate the e invoice for rcm and register it in on the GST portal. Today, we will discuss is e invoice mandatory for RCM, rcm invoice format, reverse charge invoice format, e invoice for rcm supply, GST RCM invoice format pdf and the following:
As per the new invoicing rules, RCM transactions fall within the ambit of e-Invoicing. However, there are a few exemptions. Here is the list of RCM transactions for which e-invoice is applicable for RCM:
Note: These provisions will be applicable only if:
When a Supplier or e-commerce operator reports RCM transactions to the IRP, they should validate whether serial number 1.7, ‘Reverse_Charge’ is set as ‘Y’.
As mentioned above, when a GST-registered person receives taxable supplies from an unregistered person, u/s 9(4) of CGST Act, 2017, such a registered person has to pay GST on a reverse charge basis. However, this transaction is not covered under e-Invoicing. Furthermore, in this case, the GST-registered person will have to generate an RCM self-invoice. This is mainly because the Supplier cannot provide a GST-compliant invoice, and GST has to be paid on their behalf. A self-generated invoice should include these basic details:
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