Professional services

GST invoice format for an insolvency professional

An insolvency professional's invoice must identify the corporate debtor, the NCLT case number, the role (interim resolution professional, resolution professional or liquidator), the period covered and the fee as approved by the committee of creditors. Insolvency and receivership services are SAC 998240 at 18%. Show the IBBI registration number and, where the fee is billed to the corporate debtor in CIRP, keep it separate from other insolvency resolution process costs such as valuer and legal fees, which are billed by those professionals.

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Sample insolvency professional invoice

Description	HSN/SAC	Qty	Rate (₹)	Taxable (₹)	GST
Professional fee as resolution professional, October 2026, per CoC approval	998240	1 OTH	3,00,000.00	3,00,000.00	18%
Professional fee as interim resolution professional, appointment to CoC constitution	998240	1 OTH	1,50,000.00	1,50,000.00	18%
Liquidator's fee for asset sale stage, as per regulation scale	998240	1 OTH	2,50,000.00	2,50,000.00	18%
Travel to plant site for asset inspection	998240	1 OTH	18,000.00	18,000.00	18%
Taxable value				₹7,18,000.00
GST (CGST + SGST, or IGST if inter-state)				₹1,29,240.00
Invoice total				₹8,47,240.00

Sample prices are illustrative. Check the GST rate for your exact item or service before billing.

Extra fields a insolvency professional invoice needs

IBBI registration number: Only professionals registered with the Insolvency and Bankruptcy Board of India can act. Printing the registration number confirms authority to take the fee.
Corporate debtor and NCLT case number: Each assignment is tied to one company and one tribunal case. Quoting both prevents confusion where an IP handles several matters.
Role and appointment date: Fees differ between IRP, RP and liquidator stages. The role and appointment order date define what is being billed.
CoC approval reference: Fees in CIRP are approved by the committee of creditors. Quoting the meeting and resolution reference supports payment.
Billing period: Monthly fees should state the period, as CIRP timelines are tracked closely by creditors and the tribunal.
Out-of-pocket expenses: Travel and public announcement costs incurred by the IP should be identified; whether they form part of the fee depends on who contracts them.

Standard GST invoice fields

Rule 46 of the CGST Rules applies to every tax invoice, including this one:

Supplier name, address and GSTIN
Consecutive invoice number (max 16 characters, unique for the year)
Date of issue
Customer name, address and GSTIN (if registered)
Place of supply with state name
HSN/SAC code per item
Description, quantity and unit
Taxable value after discounts
GST rate and CGST + SGST or IGST amounts
Signature or digital signature

GST rules that matter for a insolvency professional

Code and rate

The official SAC list codes insolvency and receivership services at 998240 under heading 9982, legal and accounting services. The rate notification taxes this heading at 18%, and the September 2025 changes left it untouched. Insolvency professional entities and individual IPs use the same code.

Who is the recipient

During CIRP the IP bills the corporate debtor, now managed by the IP, for professional fees approved by the committee of creditors. The corporate debtor's GSTIN is used on the invoice, and the debtor may claim credit if eligible. Where the IP is engaged by a creditor or applicant before appointment, such as for advisory, the creditor is the recipient.

CIRP costs from other professionals

Valuers, legal advisors and security agencies appointed during CIRP bill the corporate debtor directly for their services at their own rates and codes. The IP should not route those fees through its own invoice, or they become part of its supply at 18% and may confuse the CoC's cost tracking.

Liquidation

In liquidation, the liquidator's fee is decided as per the regulations or by the CoC, and is paid out of the liquidation estate. The invoice is raised on the corporate debtor in liquidation. Sales of the debtor's assets by the liquidator are supplies by the corporate debtor with their own GST implications, separate from the liquidator's fee.

Monthly billing

Bill monthly on the date set in the CoC resolution, with the period on the invoice. Advance fees, if any, are taxed when received through a receipt voucher.

Corporate debtor's GST compliance

Once appointed, the IRP or RP manages the corporate debtor's affairs, which includes its GST compliance during CIRP: filing returns, issuing invoices for supplies the debtor continues to make, and dealing with pending notices. CBIC has issued a special procedure for corporate debtors under CIRP, and the IP should check the current version on the CBIC site before deciding which registration to use for the debtor's supplies and for its own fee invoices. Whatever the registration position, keep the IP's own fee invoices, raised under the IP's GSTIN, distinct from invoices the debtor issues to its customers, since mixing them makes the CoC's review of resolution costs much harder.

Fees approved by the committee of creditors

Insolvency regulations require the IP's fee to be fixed by the committee of creditors, and creditors scrutinise every payment out of the CIRP fund. An invoice that mirrors the CoC resolution is approved quickly; one that differs is queried. State the fee approved, the resolution date and meeting number, the period the invoice covers, and any performance-linked component and how it was calculated. Where the CoC approves fees in stages, such as a monthly fee plus a success fee on approval of a resolution plan, bill each stage as its own line when it falls due, with GST at 18% on each, so the CoC can track total resolution costs against the budget it set.

Common billing mistakes

Raising the fee invoice without checking which GST registration of the corporate debtor applies under the CBIC special procedure for CIRP.
Routing valuers' and lawyers' fees through the IP's own invoice, inflating the IP's taxable value.
Billing without the CoC approval reference, delaying payment from the CIRP fund.
Leaving the NCLT case number off the invoice where an IP handles several debtors.

Insolvency Professional GST invoice: FAQ

What is the GST rate on insolvency professional services?

Insolvency and receivership services under SAC 998240 are taxed at 18%.

Who receives the IP's invoice during CIRP?

Usually the corporate debtor, which bears the IP's fee as part of insolvency resolution process costs. Check the CBIC special procedure for corporate debtors to confirm the registration to be shown.

Should valuers bill through the IP?

No. Valuers and other professionals appointed in CIRP should bill the corporate debtor directly.

Is the IBBI number required on the invoice?

It is not a GST field, but printing it confirms the professional's authority and is expected by creditors.

Is the success fee on a resolution plan taxable?

Yes. A success fee approved by the CoC is part of the IP's consideration and is taxed at 18% when invoiced or received.

Sources: PIB — Recommendations of the 56th GST Council (Annexure III, services rate changes) · GSTN — Official HSN/SAC master list (SAC_MSTR sheet) · GST Council — Notification 11/2017-CT(Rate), services rates (consolidated)

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