GST invoice format, rules of tax invoice under GST in India

GST tax invoice format and rules are new because of implementation of GST. In addition GST invoicing rules are different. So it is better that you have idea of GST tax invoice format in excel and even know about GST invoice format for services. In addition there is GST invoice software in India.

What is tax invoice under GST?

Invoicing under GST India means that it is invoice which has name of supplier. It also has billing and shipping address. Moreover you see place of supply, HSN code and rate. Therefore you must know about GST invoice template as it helps you to a great extent.

Types of invoices

There are different types of invoices and people call them as GST compliant invoices also. Below you check these supporting documents or types of invoices under GST.

  • Bill of supply
  • Sales invoice
  • Purchase invoice
  • Debit notes
  • Credit notes
  • Refund vouchers
  • Advance receipts
  • Delivery challans is for supply of approval or supply of liquid gas or even job work

Bill of Supply definition

In GST tax invoice there is bill of supply. There is another point that you should know and it is that you get tax invoice. While you receive tax invoice to charge tax. Plus it can pass credit also. However there are some times when supplier cannot charge tax. And thus you do not get tax invoice. In this case you get Bill of Supply document.

Time limit to issue GST tax invoice

You must also maintain time limit for issuing GST tax invoices. This also includes debit and credit notes and revised bills. You see below this deadline for invoicing under GST.

  • Supply of goods in normal case deadline is on or before date of delivery or removal
  • Supply of goods in continuous supply time limit is either on or before date of payment or date of issue of account statement
  • Further supply of services through NBFCs or banks is in 45 days of supply of services and
  • Finally supply of services in general case is 30 days of supply of services

When should you issue debit note?

Supplier issues debit note while it is in following cases only –

  • Original tax invoice issued besides tax charged in invoice is more than actual tax
  • Original tax invoice issued and taxable value in invoice is more than actual taxable value

When should you issue credit note?

On other hand supplier may issue credit note. Below you can see as to when credit note issues –

  • If recipient refunds goods to supplier
  • Original tax invoice issued and taxable value in invoice is more than real taxable value
  • Services are deficient or less and
  • When original tax invoice issued but tax charged in invoice is above tax paid

How to revise already issued invoices under pre-GST

Authorities allow registered taxable person to issue revised tax invoices. However it is only in one month from when you got Certificate of GST Registration. As a result you get invoice against already issued invoice. Besides this has duration from effective date of GST registration to date of issuance of Certificate of GST registration.

Aggregate invoices

There is process to raise aggregate invoices also. Whereas for this you follow some rules. Below you can see rules on how to raise aggregate invoices. And there is an example for you to help understand aggregate invoices.

For example: value of invoice is less than 200 rupees. And recipient is registered or unregistered tax payer. Then you issue aggregate invoice. In addition this invoice must have multiple invoices on day to day basis.

Let us now say that you have three invoices of Rs. 50, Rs. 100 and Rs. 100 each respectively. Then aggregate invoice for these invoices will be Rs. 250.

Fields in GST compliant invoice

There are many fields in GST compliant invoice. It is also important for you to fill all fields. If you wish to issue and get GST compliant invoice then this is mandatory to claim Input Tax Credit. If tax payer does not issue this invoice then customer will not get Input Tax Credit or ITC claim.

There are also chances for tax payer to lose customers then. To help you here you can check below fields that are mandatory in GST invoice.

  • Number and date of invoice
  • Name of the customer
  • Billing and shipping address
  • GSTIN of tax payer and customer
  • Place of supply
  • Taxable value as well as discounts
  • HSN code
  • Amount of taxes such as SGST, CGST and IGST
  • Details of the products like description, quantity and unit price

Things to remember

Invoice date means date when invoice created in bill book. On other hand invoice due date means payment is due.

If you wish to issue invoice under reverse charge then you add on invoice that you paid tax on reverse charge. Finally you must maintain invoice serial number. It is so because this number is useful for changes in future also.

Additionally authorities allow you to use DSC software to verify your invoice. Or you may use Aadhaar number to sign invoice. Thus in this way it becomes easy to sign invoices.

Details on GSTR 1 form for documents issued

You must specify total number of documents prepared and cancelled. You should also mention net issued. Adding serial number of every document is mandatory as well.

  • Invoices for inward supply from unregistered person
  • Invoices for outward supply
  • Debit note
  • Credit note
  • Revised invoice
  • Payment voucher
  • Receipt voucher
  • Refund voucher
  • Delivery challan for supply on approval
  • Delivery challan in case of liquid gas
  • Delivery challan for job work and
  • Delivery challan in case which is other than by way

How to issue GST invoices

It is simple and easy way to issue invoices. Below you can see process to issue invoices under new GST tax.

Supply of Goods (in triplicate)

  • Original for the recipient
  • Duplicate for transporter and
  • Triplicate for supplier

Supply for Services (in duplicate)

  • Original for the recipient and
  • Duplicate for the supplier

Hence you got to know about invoicing under GST India. But you should not forget to follow GST tax invoice format rules. You can also know about types of GST returns in India.

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