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Invoice Under GST

Invoice Under GST

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Invoice Under GST

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  1. Invoice under GST

  2. Prepare for AIAT • Prepare by : SANDEEP DEDE

  3. Invoice under GSTThis topic covers following points • Invoice under GST • Types of Tax Invoice • Contents of a Tax Invoice • Distribution/Manner of issuing • Electronic Ref No • Supplementary tax invoice & Credit or debit notes • Bill of Supply

  4. Invoice under GST TaxInvoice To be issued by a regular GST Dealer Bill of Supply To be issued by a Composition Dealer

  5. Types of Tax Invoice: • Regular • Revised • Supplementary/Debit Note/Credit Note • Tax Invoice Special Cases - ISD

  6. Contents of a Tax Invoice • Name, Address and GSTIN of the supplier • A consecutive serial number containing only alphabets and/or numerals, unique for a financial year • Date of its issue • Name, Address and GSTIN/ Unique ID Number, if registered, of the recipient • Name and address of the recipient and the address of delivery, along with the name of State and its code, if such recipient is unregistered and where the taxable value of supply is fifty thousand rupees or more • HSN code of goods or Accounting Code of services • Description of goods or services

  7. Cont.. Contents of a Tax Invoice • Quantity in case of goods and unit or Unique Quantity Code thereof • Total value of goods or services • Taxable value of goods or services taking into account discount or abatement, if any • Rate of tax (CGST, SGST or IGST) • Amount of tax charged in respect of taxable goods or services (CGST, SGST or IGST); • Place of supply along with the name of State, in case of a supply in the course of inter-State trade or commerce • Place of delivery where the same is different from the place of supply

  8. Cont.. Contents of a Tax Invoice • Whether the tax is payable on reverse charge • The word “Revised Invoice” or “Supplementary Invoice”, as the case may be, indicated prominently, where applicable along with the date and invoice number of the original invoice • Signature or digital signature of the supplier or his authorized representative

  9. Distribution/Manner of issuing Tax Invoices for Supply of Goods to be prepared in 3 Sets with Captions • ORIGINAL FOR RECEPIENT • DUPLICATE FOR TRANSPORTER • TRIPLICATE FOR SUPPLIER Tax Invoices for Supply of Service to be prepared in 2 Sets with Captions • ORIGINAL FOR RECEPIENT • TRIPLICATE FOR SUPPLIER Tax Invoice for Exports • Endorsement and additional details

  10. Electronic Ref No Requirement to obtain Electronic Reference No for an Invoice – similar to e-Sugam

  11. Supplementary tax invoice & Credit or debit notes A supplementary tax invoice under section 23 and a credit or debit note under section 24 shall contain the following details • Name, address and GSTIN of the supplier • Nature of the document • A consecutive serial number containing only alphabets and/or numerals, unique for a financial year • Date of issue of the document • Name, address and GSTIN/ Unique ID Number, if registered, of the recipient

  12. Cont.. Supplementary tax invoice & Credit or debit notes • Name and address of the recipient and the address of delivery, along with the name of State and its code, if such recipient is unregistered • Serial number and date of the corresponding tax invoice or, as the case may be, bill of supply • Taxable value of goods or services, rate of tax and the amount of the tax credited or, as the case may be, debited to the recipient • Signature or digital signature of the supplier or his authorized representative

  13. Bill of Supply To be issued by a Composition Dealer Contents • Name, address and GSTIN of the supplier • A consecutive serial number containing only alphabets and/or numerals, unique for a financial year • Date of its issue • Name, address and GSTIN/ Unique ID Number, if registered, of the recipient • HSN Code of goods or Accounting Code for services • Description of goods or services

  14. Bill of Supply • Value of goods or services taking into account discount or abatement, if any • Signature or digital signature of the supplier or his authorized representative Need not issue a bill of supply if the value of the goods or services supplied is less than one hundred rupees except where the recipient of the goods or services does not require such bill. Consolidated bill of supply shall be prepared by the registered taxable person at the close of each day in respect of all such supplies where the bill of supply has not been

  15. Thank you

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