GST roll-out: Jute sector at the end of invoicing tether

Notification issued to stop all despatches from June 28-July 3

Barely two days to the roll-out of the goods and services tax (GST), the jute industry is grappling with invoicing worries in migrating to the new regime.

Jute transactions are usually through commercial invoice, mandated by the office of the jute commissioner. These invoices are required by the commissioner’s office for release of payments and recovery of reimbursements. Excise invoices wouldn’t do, as the freight amount is known only upon issue of railway receipts (RRs). 

However, under the Central GST and State GST rules, only a GST tax invoice may be issued; commercial invoices are not allowed. 

“The industry is