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GST Invoice Format

gst invoice format

GST Invoice Format

With the annual return filing date coming closer it is necessary to ensure that you are preparing your GST Tax Invoice in the correct format and not missing out on important details. While you can, of course, create your own personalized formats, there are many readily available formats for budding enterprises that can use these formats for help. Before we dig in right into the GST Invoice format and other details we’re going to address some basic questions about Invoices and who should issue it. If you already know details about the same you can scroll towards the bottom half of the article to know more about the format.

– What is an Invoice and what are the new things to be added to a GST Invoice?

 

An invoice is like a bill which has the summary of all the goods and services that have been/will be provided with a sum of the amount that is due. An invoice includes the actual charge of the goods and services along with different charges such as VAT, Indirect Tax, Import/Export charges etc.

With GST being rolled out from the 1st of June, 2017 all the miscellaneous tax charges and overheads will be combined under just one head mainly known as the – Goods and Service Tax. Under this, the charges are divided as either Central and State or Central and Inter-State Tax.

Who should issue a GST invoice?

 

Every individual who has registered themselves on the GST portal and fall under the GST rule need to issue a GST invoice for their suppliers and dealers.

If you are a small business/enterprise and do not fall under the minimum GST bracket, it is not necessary for you to issue a GST invoice. However, your suppliers and dealers registered under GST will provide you with a GST invoice.

– What are the mandatory fields of the GST Invoice?

 

The GST invoice can be in different formats and have personalized value additions depending from firm to firm. However, there are certain fields that are mandatory and common between all the invoices. Below is the list of all the mandatory fields one needs to ensure on their GST Invoice.

  1. Name, address and GSTIN of supplier
  2. Invoice number and Date
  3. Type of invoice – Tax Invoice, supplementary invoice, revised invoice etc.
  4. Customer and Taxpayers GSTIN (If registered under the GST Portal)
  5. HSN or SAC code for goods and services provided
  6. Details of goods and services provided – i.e. Description of goods and services, Quantity, Unit, Final Value
  7. Total amount value of the goods and services provided
  8. Amount of discounts if any
  9. Tax Rate for every item
  10. GST Rate % and total value under Central and State or Central and Inter-State (CGST, SGST, IGST)
  11. Place of supply and name of supplying state
  12. If GST is payable on a reverse charge basis
  13. Address of delivery (If different from the place of supply)
  14. The total amount of goods and services with the include discounts and taxes
  15. Signature/Digital Signature of the supplier or authorized person

– When should a GST Invoice be issued?

 

A GST invoice can be issued only till a particular time and has a defined time period. The table below shows the timeline for the issuance of the invoice based on the good/service

Type of Goods/Service Time Period
Goods – Normal Case On/Before the date of delivery
Goods – Continuous Supply On/Before the date of issue of account  statement/Payment
Services – General Case Within 30 days of supply of the service
Services – Banks and NBFC’s Within 45 days of the supply of service

Note: If a person paying tax on reverse charge receives goods or services from an unregistered supplier, the receiver needs to issue an invoice on the date of receipt of the respective goods or services.

– How many copies of the GST Invoice does a supplier need to make?

 

The copy of invoices again is divided depending on the type of good/service provided. The table below shows how many copies a supplier needs to make.

Type of Goods/Service Invoice Copy Reason
Goods – Normal Case Three Copies Original for the receiver, duplicate for the transporter*, third for the supplier
Goods – Continuous Supply Three Copies Original for the receiver, duplicate for the transporter*, third for the supplier
Services – General Case Two copies Original for the receiver, duplicate for the supplier
Services – Banks and NBFC’s Two copies Original for the receiver, duplicate for the supplier

– What are the types of GST Invoices?

 

  1. Bill of Supply

There are a few goods and services that come under the 0% tax bracket. Due to this, the suppliers cannot charge any tax but this does not mean they do not issue any proof of document. Such dealers have to issue a Bill of Supply. A bill of supply is issued when GST is not applicable to a transaction or when GST is not to be recovered from the customer.

  1. Aggregate Invoice

Quite often the values of multiple bills is less than a particular value and the buyer is not registered under the GST portal. Here, the supplier can issue an aggregate bill or an aggregative invoice. This is actually a single invoice with values over a period of time.

  1. Debit and Credit Notes

A debit note is issued when the amount paid to the supplier increases while a credit note is issued when the amount paid to the supplier decreases. There are various conditions and instances under which debit and credit notes are issued.

Where to download the format for GST Invoices from?

The GST official website provides a format for the invoice along with many other websites and tax-related online portals that let you download a standardized GST format invoice. However, if you have business on a large scale and need better services, it is advisable to have a personalized format for carrying out your businesses.

– Where to download the format for GST Invoices from?

 

The GST official website provides a format for the invoice along with many other websites and tax-related online portals that let you download a standardized GST format invoice. However, if you have business on a large scale and need better services, it is advisable to have a personalized format for carrying out your businesses.


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