Recurring / Subscription Invoice Tracker in Excel

Last updated: 27 June 2026

A recurring invoice template in Excel lets Indian service businesses — consultants, SaaS vendors, landlords, and maintenance firms — generate GST-compliant invoices on a fixed schedule, track payment status, and never miss the 30-day issuance window the CGST Act requires for continuous supply of services.

Key takeaways

• GST law treats subscriptions and retainers as "continuous supply of services" — you must issue the invoice on the agreed payment due date, or within 30 days of supply, whichever is earlier.
• The current GST slabs are Nil, 5%, 18%, and 40% (the 12% and 28% slabs were abolished on 22 September 2025).
• A two-sheet Excel setup — a Tracker and a linked Invoice template — covers the full recurring billing cycle with zero recurring software cost.
• Conditional formatting turns overdue rows red and this-week rows yellow automatically.
• If you are an MSME supplier, the 45-day payment rule under the MSMED Act (Section 43B(h)) applies; your tracker should flag payment dates beyond that limit.
• E-invoicing on the IRP is mandatory from ₹5 crore aggregate turnover; at ₹10 crore+ you must upload within 30 days of the invoice date.
• Advances received for services carry GST on the date of receipt — build an "Advance Received" flag into your tracker.

What is a recurring invoice and when does GST require you to issue one?

A recurring invoice is a document issued repeatedly to the same client for the same service at a fixed interval — monthly retainer, annual maintenance contract, quarterly SaaS subscription, or monthly rent. Under Section 31(5) of the CGST Act (continuous supply of services), the invoice must be issued:

• On the due date of payment, if the contract specifies payment dates; or
• At the time of completion of each event or milestone, if payment is linked to milestones; or
• Within 30 days of each date of supply in all other cases (60 days for banking or insurance companies).

Missing this window is a compliance failure that can cost your buyer their Input Tax Credit (ITC).

Fact box. ITC time limit: a buyer can claim ITC on a purchase invoice only up to 30 November following the financial year in which the supply was made (Finance Act 2022 amendment). If you delay issuing a December invoice until the following April, your client may lose ITC worth 18% of the invoice value permanently.

How do I set up the Tracker sheet in Excel?

The Tracker sheet is the backbone. Each row represents one active recurring engagement. Recommended columns:

Date formula for Next Invoice Date

For monthly frequency in column H, with the previous invoice date in G2:

=DATE(YEAR(G2), MONTH(G2)+1, DAY(G2))

For quarterly:

=DATE(YEAR(G2), MONTH(G2)+3, DAY(G2))

For annual:

=DATE(YEAR(G2)+1, MONTH(G2), DAY(G2))

Wrap each formula in IFERROR and use an IF on the Frequency column to select the right interval automatically.

How do I add automatic due-date alerts with conditional formatting?

Apply conditional formatting rules to the entire Tracker table using formulas based on column H (Next Invoice Date):

1. Red — Overdue: =$H2<TODAY() → fill red, white text
2. Yellow — Due this week: =AND($H2>=TODAY(), $H2<=TODAY()+7) → fill amber, dark text
3. Green — Paid: =$O2="Issued" → fill light green

Apply these rules in priority order (red first) so an overdue-but-issued row shows green.

Fact box. MSME 45-day rule: under the MSMED Act 2006 and Section 43B(h) of the Income Tax Act (effective FY 2023-24 onwards), large enterprise buyers must pay Micro and Small suppliers within 45 days of the invoice date (or the agreed date, if shorter). Add a "Payment Due By" column: =N2+45 where N2 is the invoice date. Highlight cells where TODAY()>payment_due_by and column P (Payment Received Date) is blank — these are potential Section 43B(h) breaches your buyer must report.

How do I auto-populate the Invoice template from the Tracker?

Sheet 2 is the printable GST invoice. At the top, place a Client ID dropdown (Data Validation → List → source from column A of the Tracker). Then use INDEX/MATCH to pull all fields:

Client Name:   =IFERROR(INDEX(Tracker!B:B, MATCH(InvoiceSheet!B3, Tracker!A:A, 0)), "")
GSTIN:         =IFERROR(INDEX(Tracker!C:C, MATCH(InvoiceSheet!B3, Tracker!A:A, 0)), "")
SAC Code:      =IFERROR(INDEX(Tracker!E:E, MATCH(InvoiceSheet!B3, Tracker!A:A, 0)), "")
Taxable Amt:   =IFERROR(INDEX(Tracker!I:I, MATCH(InvoiceSheet!B3, Tracker!A:A, 0)), "")
GST Rate:      =IFERROR(INDEX(Tracker!J:J, MATCH(InvoiceSheet!B3, Tracker!A:A, 0)), "")

The invoice date defaults to =TODAY(). Invoice number should reference your auto-incrementing counter (see the related article on invoice number format below).

After printing or saving as PDF:

1. Manually enter the new invoice number into column N of the Tracker row.
2. Update column H (Next Invoice Date) to the next cycle date.
3. Set column O (Status) to "Issued".

How should I handle advances and partial payments for GST?

Under GST, advances received for services are taxable on the date of receipt — GST is payable when you collect the advance, even before the service is delivered. This is different from goods, where GST on advance payments is currently suspended.

Practical steps:

1. Add an "Advance Received (₹)" column to your Tracker.
2. When an advance comes in, issue a Receipt Voucher (not a tax invoice) and pay GST on the advance amount in the period of receipt.
3. When you issue the final invoice, adjust the advance: Final Invoice Taxable = Total Taxable − Advance Taxable. GST on the balance is payable in the period of final invoice.
4. If the advance covers the full value, the final invoice can still be issued to document supply completion — GST has already been paid.

What GST return deadlines must a recurring billing business track?

For recurring billing, the key risk is issuing an invoice in the wrong month — e.g., issuing a 31 March invoice in April. That invoice will appear in April's GSTR-1, but your buyer needed it in March's GSTR-2B to claim FY ITC. Always issue by the last day of the billing month.

Does e-invoicing apply to recurring invoices?

Yes. E-invoicing requirements apply based on aggregate turnover in any preceding financial year:

• ₹5 crore and above: mandatory e-invoicing on the IRP (Invoice Registration Portal) for all B2B tax invoices.
• ₹10 crore and above: you must upload the invoice to the IRP within 30 days of the invoice date. A recurring invoice dated the 1st of the month must be uploaded by the 31st.

Your Excel tracker can include an "IRN Generated" column (Y/N) and an "IRN Date" column. Flag any row where TODAY() − Invoice Date > 28 and IRN is blank.

How Ankeshan helps

How Ankeshan helps: Ankeshan generates recurring GST invoices from your tracker in one click — auto-numbered, correct CGST/SGST/IGST split, PDF-ready — all inside Excel. It's launching soon; join the waitlist.

The free Excel recurring-invoice tracker described in this article requires no sign-up.

Frequently asked questions

Can I use one Excel file for multiple recurring clients? Yes — that is the design of the two-sheet approach described above. The Tracker sheet holds all clients; the Invoice sheet auto-populates when you select a Client ID from the dropdown. You can manage 50+ recurring clients in a single workbook.

How many days do I have to issue a GST invoice for a monthly retainer? For continuous supply of services with a specified payment date, the invoice must be issued on the payment due date itself. If no due date is specified in the contract, you have 30 days from the date of supply. Issue invoices on or before the last day of each billing period to be safe.

Do I need to register for GST to issue recurring invoices? If your aggregate annual turnover exceeds ₹20 lakh (₹10 lakh for special category states), GST registration is mandatory regardless of whether billing is recurring or one-off. Below the threshold, you can issue ordinary invoices without GST. Verify current thresholds on the official GST portal for your state category.

What if my client does not pay — do I still owe GST? Under the current GST framework, tax is payable on accrual (time of supply), not on collection, for registered taxpayers filing under the regular scheme. If the invoice has been issued and the time of supply has passed, GST is due even if the client has not paid. Composition taxpayers are an exception and pay on receipt.

Is the 12% GST rate still applicable on any services? No. The 12% and 28% GST slabs were abolished effective 22 September 2025. Services previously taxed at 12% now fall under 5% or 18% depending on the revised rate schedule. Verify the applicable rate for your SAC code on the GST rate finder on the official portal.

How do I handle a mid-year change in the client's GST rate or address? Update the Tracker row for that client with the new details and note the effective date in a comments column. Do not backdate changes — invoices already issued under the old rate are correct as issued. Issue future invoices with the updated details. If the GSTIN has changed (e.g., the client moved states), treat it as a new client record.

Sources

• Central Goods and Services Tax Act, 2017 — Section 13 (Time of supply of services), Section 31 (Tax invoice)
• CGST Rules, 2017 — Rule 47 (Time limit for issuing tax invoice)
• Finance Act 2022 — Amendment to ITC time limit (Section 16(4))
• MSMED Act, 2006; Income Tax Act Section 43B(h) — Supplier payment timeline
• GST Council press release, 22 September 2025 — Rate rationalisation (abolition of 12% and 28% slabs)
• GSTN Advisory on 30-day IRP upload rule (₹10 crore+ taxpayers)

Disclaimer: General information, not professional advice. Verify on the official portal for your case. Reviewed by a Chartered Accountant; last updated 27 June 2026.

Related articles

• GST Invoicing — complete guide — pillar page covering all invoicing formats under GST
• Free GST Invoice Template in Excel — download a single-use GST invoice with CGST/SGST/IGST auto-calc
• Auto-Incrementing Invoice Number in Excel — set up a sequential invoice number counter that resets each financial year
• Convert Quotation to Invoice in Excel — one-click conversion from proforma/quotation to tax invoice