CBIC notifies Time Limit for Issuance of GST Invoices for Supplies from Unregistered Persons under RCM

The CBIC has notified a time limit for the issuance of GST invoices for supplies from unregistered persons under the Reverse Charge Mechanism (RCM). Effective from November 1, 2024, registered persons must issue tax invoices within 30 days from the date of supply of goods or services under RCM. This amendment aims to ensure timely documentation and compliance with GST regulations. Failure to issue invoices within the stipulated time frame may result in penalties and interest charges, emphasizing the importance of adhering to the new rule to avoid compliance issues.