What is a GST Invoice?
A bill or GST invoice is a complete list of services provided or goods sent along with due payment amount.
Who required GST Invoice?
As a dealer who is registered under GST are needs to offer bills or GST invoices to the customers.
Who can issue GST Invoice?
If your business is registered under the GST then you require to give GST compliant invoices to your customers for sale goods and services. Your vendor who is also registered under the GST will offer GST compliant invoices of purchase to you.
What are the essentials fields of GST Invoice?
An invoice of tax is normally issued for imposing the tax and passes this tax on the input credit of tax. The GST invoice should have the following necessary fields.
If the value of the product is more than Rs. 50,000 and the recipient is not registered, then the invoice should contain:
When you must issue the GST Invoices?
The act of the GST has provided limit of time for issuing credit note, debit notes, revised bills and GST tax invoices.
The following are dates which are due for issuance of customers invoice:
How can issue GST Invoice?
If there is supply of goods, then invoice need to be created in triplicate in the following way:
In case of services supply the invoice need to be created in duplicate in the following way:
After the issuance of invoice, the invoices serial number, which are issued in the period of tax must be electronically uploaded via the common website of the GST in form GSTR-1.
Types of Invoices
The various kinds of invoice are following:
If the buyer is unregistered and multiple invoices value is not more than Rs. 200, then bulk or aggregate invoice is issued by the seller on a regular basis for the multiple invoices.
If an unregistered person receives the supply of exempted as well as taxable services or goods from a registered person, then a single invoice-cum-bill of supply is issued by him for this type of supplies.
The bill of supply is same as an invoice of GST. The only difference is that amount of tax is not given in the bill of supply as the buyer is not charged GST by the seller.
In some cases, tax is not levied then a bill of supply is issued:
Can you revise those invoices which are issued before GST?
Yes, those invoices which are issued before GST, you can revise them easily. Under the regime of the GST, all dealers need to apply for GST registration on a provisional basis before receiving the certificate of permanent registration.
This will apply to all those invoices which are issued between the GST implementation date and the date of issue of certificate of registration
If you are a dealer, then all those already issued invoices, then against them you require to issue a revised invoice. Within one month the revised invoice must have issued from the issue date of certificate of registration.
How many invoices copies must be issued?
Two copies of invoice need to be issued for the services. Three copies of invoice are need to be issued for the goods. In the cases such as transport, passenger and banking, the government has offered some relaxations on the format of the invoice as issued by supplier.
Main differences between the old format of invoice and new format of GST invoice
Across the globe, the formats of invoice have some universal components which are similar such as final value, tax amount, rate of tax, taxable value of supply, total value of supply, quantity, description of goods, address and name of the recipient and the supplier, and date of invoice etc.
Under the GST, the supplier GSTIN is essentially needed for mentioning in the invoice of tax along with a succeeding serial number which is distinct for every financial year. Therefore, businesses require to follow that format of numbering of invoice which gives importance to the needs of the GST.
Small businesses need to use that format of invoice number which begins with the financial year such as 2018-XXXX, where the XXXX will be numerals for keeping a track of the invoices numbers in a financial year issued by the business.
Download GST Invoice Format in Excel & PDF
You can download GST Invoice Format in Excel & PDF by clicking below links –
FAQs related to GST Invoice
Yes, you can sign digitally the invoice via DSC (Digital Signature Certificate).
In few cases, the government has offered relief on the format in which a supplier issued the invoice.
ISD (Input Service Distributor) issued the invoice or a note of credit and it contains some details which are somehow different than the normal formats of the invoice.
In certain cases, when the input service distributor is a NBFC, a financial institution, or a banking company, the invoice of tax includes all those documents which are issued instead of invoice of tax. The documents need to have following information.
In the banking and insurance sector, the suppliers issued the invoice.
The supplier can be
Must issue an invoice of tax or other documents instead of invoice of tax.
The invoice is issued by the supplier via electronically or physically. The invoice may not be or may numbered serially, and my not or may contain the taxable service recipient address. It must contain information as given in the tax invoice format.
In case if the services supply is performed by GTA in affiliation to goods transportation in a carriage or goods by road, then the supplier must issue an invoice of tax or a same document. The document or invoice must include the following information:
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Due date for deposit of TDS for the period October 2021 to December 2021 when Assessing Officer has permitted quarterly deposit of TDS under section 192, section 194A, section 194D or section 194HJan 07th ,2022
Due date for deposit of Tax deducted/collected for the month of December, 2021. However, all the sum deducted/collected by an office of the government shall be paid to the credit of the Central Government on the same day where tax is paid without production of an Income-tax ChallanJan 07th ,2022
Due date for issue of TDS Certificate for tax deducted under section 194-IA in the month of November, 2021Jan 14th ,2022
Due date for issue of TDS Certificate for tax deducted under section 194-IB in the month of November, 2021Jan 14th ,2022
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The due date for filing of audit report for Assessment Year 2021-22 has been extended vide Circular no. 17/2021, dated 09-09-2021Jan 15th ,2022