INVOICE NUMBER FOR NEW FINANCIAL YEAR

[Nihal Shaikh]

Dear Sir,

it is mandatory to start new number series of invoice for every financial year?

OR we can carry forward old series.? Please suggest

[Amit Kumar]

AllIndiaITR is the one stop for all your tax troubles. We understand how confusing it can be for the common man to file ITR, Tax Filing, Efile Income Tax not to forget the time spent in looking for meanings of income tax related terms.

[KASTURI SETHI]

As per Rule 46(b) of CHST Rules, 2017, Serial numbers of invoice book should be unique every financial year. It should be distinguished from the previous year. It is better to start a new series of invoice every financial year as it is convenient for maintaining record and audit purpose. Unique means with a difference. It should be different from the previous year.

[Ganeshan Kalyani]

Rule 46(b) of CGST Rules, 2007 states as "a consecutive serial number not exceeding sixteen characters, in one or multiple series, containing alphabets or numerals or special charactershyphen or dash and slash symbolised as “-” and “/” respectively, and any combination thereof, unique for a financial year;"

The above rule states that invoice number should be unique for each financial year. It does not mean that one has to start invoicing with new series. One has to ensure that the invoice number is unique. You may continue with the same series or to have a better control it is advisable to start with new series. Thanks.

[YAGAY and SUN]

Already replied by experts.

AI Summary

Invoice number uniqueness required: identifiers must be unique each financial year, though continuing a series is permissible if unique.
Invoice serial numbers must be unique for a financial year. The rule requires a consecutive serial number using permitted characters and uniqueness within the financial year; continuation of an existing series is permissible if uniqueness is ensured, though starting a new series each year is administratively preferable for recordkeeping and audit.