Option to be exercised at beginning of year within 1 month

(i.e.for 2015-16,option to be excercised by 30 April 2015)


The option once exercised cannot be withdrawn during the remaining part of the financial year.

e:-The invoice/blil/challan must be serially numbered


Exemption to banking companies and financial institution and NBFC

Their invoice need not be serially numbered.

 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 but may have input services received here

Hence,the person need to be registered as ISD to distribute credit


Issue of Consignment Note by GTA

Consignment note is to be issued  by goods transport agency (GTA)

This consignment note must be serially numbered

  A consignment note shall contain the following details -

  • Name of the consignor and consignee,
  • Registration number of the goods carriage in which the goods are transported,
  • Details of the goods transported,
  • Details of the place of origin and destination,
  • Person liable for paying service tax whether consignor, consignee or the goods transport agency .


In case of exempted services, goods transport agency is not required to issue consignment note.

For example

Consignment of fruits and vegetables


Ask a doubt
CA Maninder Singh's photo - Co-founder, Teachoo

Made by

CA Maninder Singh

CA Maninder Singh is a Chartered Accountant for the past 14 years. He also provides Accounts Tax GST Training in Delhi, Kerala and online.