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

AI Summary

Invoice Numbers Must Be Unique Each Financial Year per Rule 46(b) of CGST Rules 2017; New Series Recommended. A participant inquired whether it is mandatory to start a new invoice number series each financial year or if the old series can be continued. Responses clarified that according to Rule 46(b) of the CGST Rules, 2017, invoice numbers must be unique for each financial year. While it is not strictly necessary to start a new series, doing so is recommended for ease in record-keeping and audits. The rule allows for a consecutive serial number up to sixteen characters, which can include alphabets, numerals, and certain symbols, ensuring uniqueness for each financial year.