Under the GST act the details to be maintained in invoice, types of invoice has been specified. As per nature of transaction they are required to be prepared. Under this article a detailed elaboration has been made on the types of invoices which are required to be prepared along with the details to be mentioned.

Under GST regime every assesse must prepare different types of invoices. Under current scenario many dealers prepare the invoice manually and also the information mentioned is more or less the same. But under GST regime the dealer must mention full information as per law. As the dealer has to submit the details to the government every month, as per the nature of transaction the invoices are to be prepared like tax invoice, bill of supply, debit/credit note, receipt voucher etc

At the preparing the invoice as per GST it is mandatory to mention the following things in the tax invoice:

1) Name, address and GSTIN of the supplier

2) Name, address and GSTIN of the Service provider

3) Date of its issue of Invoice

4) A consecutive serial number, containing alphabets or numerals or special characters

5) Name, address and GSTIN or UIN, of the recipient in case of goods; if registered

6) Name, address and GSTIN or UIN, of the recipient of services; if registered

7) Address of delivery

8) HSN Code in case of goods or

9) Service Accounting Code in case of services

10) Quantity of goods sold

11) Description of goods or services or both

12) Value of supply of goods or services or both taking into account discount or abatement, if any

13) Amount of GST on taxable goods or services

14) Rate of GST

15) Whether reverse charge applicable

16) Place of supply in case of interstate transaction

17) Signature or digital signature of the supplier or his authorized representative.

Every registered assesse under GST has to issue invoice at the time of supply of goods/ service. In the case of services the invoices must be issued within 30days from the date of supply of services. In case of small dealers where the amount of invoice is less than Rs. 200 then no need to issue the invoice. He should prepare an invoice of total amount of the supply of goods below Rs. 200 in one day. In case the amount of invoice exceeds Rs. 200 then it is mandatory to prepare ‘Tax invoice’. If invoice amount is more than Rs. 50,000 and he is an unregistered dealer or service provider then it is mandatory to mention the name, address, state of the receiver’s on the invoice. Also, in case the assesse purchases from unregistered dealer or service provider then also Tax invoice is required to be issued to him. In case of supply of goods the assesse has to prepare three copies of invoice one for purchaser, second for transporter and third for self. Similarly, person supplying services have to make two copies of invoice one for service receiver and second for self.

GST Invoice format:

For Supply of Goods

TAX INVOICE

 

 

1. GSTIN

2. Name

3. Address

4. Serial No. of Invoice

5. Date of Invoice

 

Details of Receiver (Billed to)                                             Details of Consignee (Shipped to)

Name                                                                                                             Name

Address                                                                                                         Address

State                                                                                                               State

State Code                                                                                                    State Code

GSTIN/Unique ID                                                                                      GSTIN/Unique ID                                                                                                        

 

Sr.No

Description of Goods

HSN code

Qty

Unit

Rate

(per item)

Total

Discount

Taxable Value

CGST

SGST

IGST

Rate

Amt

Rate

Amt

Rate

Amt

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Freight

 

Insurance

 

Packaging and Forwarding Charges

 

 

Total

 

 

 

 

 

 

 

Total Invoice Value (In figure)

 

Total Invoice Value (In Words)

 

Amount of Tax subject to Reverse Charges

 

 

 

 

 

                          Declaration:                                                                                                                                Signature

 

                                                                                                                                                                Name of the Signatory

                         

                                                                                                                                                                                  Designation / Status

 

                            Electronic Reference Number Date -                                                Date -

For Supply of Services

TAX INVOICE

 

 

1. GSTIN

2. Name

3. Address

4. Serial No. of Invoice

5. Date of Invoice

 

Details of Service Receiver (Billed to)                                                                                                          Details of Service provider

Name                                                                                                                                                                Name

Address                                                                                                                                                            Address

State                                                                                                                                                                 State

State Code                                                                                                                                                      State Code

GSTIN/Unique ID                                                                                                                                            GSTIN/Unique ID                                                                                                        

 

Sr.No

Description of Service

SAC code

Total

Discount

Taxable Value

CGST

SGST

IGST

Rate

Amt

Rate

Amt

Rate

Amt

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

 

 

 

 

Total Invoice Value (In figure)

 

Total Invoice Value (In Words)

 

Amount of Tax subject to Reverse Charges

 

 

 

 

 

                          Declaration:                                                                                                                                                                                                          Signature

 

                                                                                                                                                                                                                                             Name of the Signatory

                         

                                                                                                                                                                                                                                               Designation / Status

 

                            Electronic Reference Number Date -                                                Date -

Bill of Supply:

Where the registered dealer is supplying tax free goods (i.e. tax rate is 0%), then they should give bill of supply for those goods. All the information except GST rate and GST amount as mentioned in Tax invoice is required to be given in the bill of supply to the recipient of goods.

Receipt Voucher:

Where in the normal course of business at the time of receiving advance receipt voucher will have to be prepared and issued by the registered service provider or dealer. The dealer must charge GST on advance received. In receipt voucher all the things mentioned in the tax invoice must be mentioned.

Debit and Credit note:

Once the tax invoice has been uploaded on GSTN changes cannot be made by the assesse. In case any changes are needed to be done then they will be made through debit and credit note. The information mentioned in tax invoice should be mentioned in debit or credit note to execute the changes.

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CA Chirag Chauhan

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Chartered Accountant, CA Chauhan



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    I hope by reading this article you got enlighten on ,Format of Invoice in GST for Goods and Service and Mandatory Requirement further to mention before taken any financial decision based on this content it is prefered to take an expert opinion as matter can be subjective.