They shall issue a challan/invoice or bill for distributing credit
This challan/invoice or bill must contain
- Name ,address of Input Service Distributor
- Name ,address of Recipient of Credit (party to whom bill issued)
- Amount of Credit
- Name, address and registration number of the person providing input services and the serial number and date of invoice, bill, or as the case may be, challan;
Note:-The invoice/blil/challan must be serially numbered
Exemption to banking companies and financial institution and NBFC
Their invoice need not be serially numbered.
QUESTION
If a taxpayer has centralized registration, do they still need to be registered as Input Service Distributor
Yes, because a person may have a place where he is not providing any output services, but may have input services received there
Hence, the person need to be registered as ISD to distribute credit
