Invoice Agreement for India

Invoice Agreement Template for India

This Invoice Agreement template is designed for use under Indian law and establishes the terms and conditions governing the invoicing relationship between parties engaging in regular business transactions. The agreement comprehensively addresses GST compliance requirements, payment terms, electronic invoicing provisions, and dispute resolution mechanisms in accordance with Indian commercial law. It includes mandatory provisions under the Central Goods and Services Tax (CGST) Act, 2017, and considers requirements under the Information Technology Act, 2000, for electronic invoicing systems.

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What is a Invoice Agreement?

This Invoice Agreement template is essential for businesses operating in India that engage in regular commercial transactions requiring structured invoicing arrangements. The agreement is particularly relevant when parties need to establish clear terms for invoice submission, payment processing, and compliance with Indian tax regulations. It addresses key aspects such as GST requirements, electronic invoicing protocols, payment terms, and dispute resolution mechanisms. The document is designed to comply with Indian commercial law, including the Central Goods and Services Tax (CGST) Act, 2017, and the Information Technology Act, 2000. This Invoice Agreement is commonly used in ongoing business relationships where regular invoicing occurs and where parties need to establish standardized processes for invoice handling and payment.

What sections should be included in a Invoice Agreement?

1. Parties: Details of the parties entering into the invoice agreement, including registered addresses and company registration numbers

2. Background: Context of the business relationship and purpose of the invoice agreement

3. Definitions: Definitions of key terms used throughout the agreement

4. Invoice Submission: Process and requirements for submitting invoices, including format, timing, and supporting documents

5. Payment Terms: Payment timeline, method of payment, and currency specifications

6. GST Compliance: Requirements for GST registration, taxation details, and compliance obligations

7. Dispute Resolution: Process for handling invoice-related disputes and discrepancies

8. Records and Audit: Requirements for maintaining invoice records and rights of audit

9. Term and Termination: Duration of the agreement and conditions for termination

10. Governing Law: Specification of Indian law as governing law and jurisdiction

What sections are optional to include in a Invoice Agreement?

1. Electronic Invoicing: Specific provisions for e-invoicing when parties agree to use electronic invoice systems

2. Credit Terms: Include when extending credit facilities or special payment arrangements

3. Foreign Currency Provisions: Required when invoicing involves international transactions or foreign currency

4. Late Payment Interest: Specific terms for interest charges on delayed payments

5. Service Level Requirements: Include when specific service levels need to be met before invoice submission

6. Tax Indemnification: Additional tax-related protections for cross-border or complex transactions

7. Force Majeure: Include when needed to address circumstances preventing timely invoice processing or payment

What schedules should be included in a Invoice Agreement?

1. Schedule 1 - Invoice Format: Template and required fields for valid invoices

2. Schedule 2 - Rate Card: Agreed rates and prices for goods or services

3. Schedule 3 - Supporting Documents: List of required supporting documents for invoice submission

4. Schedule 4 - Authorized Representatives: List of persons authorized to submit and approve invoices

5. Appendix A - GST Registration Details: GST registration numbers and details of both parties

6. Appendix B - Bank Account Details: Banking information for payment processing

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

India

Publisher

Genie AI

Document Type

Invoice Form

Sector

Sales

Cost

Free to use
Relevant legal definitions
Clauses
Relevant Industries

Manufacturing

Information Technology

Professional Services

Retail

Wholesale Trade

Construction

Healthcare

Education

Logistics and Transportation

Energy and Utilities

Financial Services

Telecommunications

Relevant Teams

Finance

Accounts Payable

Accounts Receivable

Procurement

Legal

Compliance

Treasury

Tax

Commercial

Supply Chain

Vendor Management

Relevant Roles

Chief Financial Officer

Finance Manager

Accounts Payable Manager

Accounts Receivable Manager

Procurement Manager

Financial Controller

Tax Manager

Commercial Manager

Business Development Manager

Contract Manager

Compliance Officer

Treasury Manager

Credit Controller

Supply Chain Manager

Vendor Relationship Manager

Industries
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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