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How Many Types of Invoice in GST?
There will be 2 types of Invoices in GST
-
Tax Invoice
It is to be used for all types of taxable Sales -
Bill of Supply
It is to be used for exempt sales + Sales by Composition Dealer
Note:-
For both Goods and Services, It will be Same Series (bill book)
Also for both local and central sales which are taxable, same bill book
Only for exempt goods, there will be separate bill book called Bill of Supply
How will Tax be Charged on Bills
On Local Sales,CGST + SGST will be Charged
On Central Sales,IGST will be Charged
Example
Similarly on Services, Also Same tax will be charged
Example
Compulsory Items Required in Tax invoice in GST
View Answer- Name, Address, GSTIN No of Supplier
- Unique Serial Number of Each Invoice in one or multiple series (Can have Dash (– )or Slash (/).But it should be different series for each year
- Date of Issue of Invoice
- Name , Address ,GSTIN of Buyer if Registered
- In Case of Unregistered Buyer, Name, Address, State, Place of Delivery is compulsorily required if Invoice Value before taxes is more than 50000
- HSN Code of Goods
- Description of Goods
- Quantity as well as Quantity Code or Units
- Total Value
- Discount if any and Taxable Value (Total Value-Discount)
- Rate of Tax (Separately show CGST, SGST, without IGST, UTGST, Cess if any)
- Place of Supply (It is required For Interstate Sales)
- Address for Delivery
- Whether Tax is Payable Under Reverse Charge
- Signature/Digital Signature of Authorized Signatory
Sample Format of Tax Invoice in GST
TAX INVOICE ON GOODS LOCAL
TAX INVOICE ON GOODS CENTRAL
Download in Excel Format
Download in Excel Format
TAX INVOICE ON SERVICES LOCAL
TAX INVOICE ON SERVICES CENTRAL
Download in Excel Format
QUESTIONS
Can Cash Sales InvoIce Be issued without Mentioning Buyer Name?
View AnswerYes
This can be done only if
Sale is to Unregistered
Taxable Value (Amount before taxes) is upto 50000
For Different Cash Sales during the day, Can One Bill to be issued or Separate?
View AnswerIf taxable value (amount before taxes) is upto 200
And
Buyer Does not ask for bill
Single invoice can be issued for one day sales
What is HSN Code of Item
View AnswerFull form of HSN Code is
- Harmonized System Nomenclature
- In easy language , it means Serial number of Goods
- In GST,Each goods has a unique Serial Number OF 8 Digits
You can search HSN Code for your goods here
For Services,You can Download Service Accounting Code Excel Sheet
Is Mentioning HSN Code Compulsory on Invoice?
View AnswerIt Depends upon Turnover of Tax Payer
|
TURNOVER OF TAX PAYER IN LAST YEAR |
REQUIREMENT OF HSN CODE |
|
UPTO 150 LAKHS(1.5 CRORE) |
NOT REQUIRED |
|
1.5-5 CRORES |
FIRST 2 DIGITS |
|
MORE THAN 5 CRORES |
FIRST 4 DIGITS |
(Notificatiion 12/2017)
How Many Copies of Invoice to be Issued?
View AnswerAs per Rule 3 of GST Revised Invoice Rules:
-
The invoice shall be prepared in triplicate, in case of supply of goods, in the following manner:–
- the original copy being marked as ORIGINAL FOR RECIPIENT;
- the duplicate copy being marked as DUPLICATE FOR TRANSPORTER; and
-
the triplicate copy being marked as TRIPLICATE FOR SUPPLIER.
-
The invoice shall be prepared in duplicate, in case of supply of services, in the following manner:-
- the original copy being marked as ORIGINAL FOR RECIPIENT; and
-
the duplicate copy being marked as DUPLICATE FOR SUPPLIER.
- The serial number of invoices issued during a tax period shall be furnished electronically through the Common Portal in FORM GSTR-1.
How to check Tax Rate on Services to be charged on Bill?
View AnswerNormal Tax Rate on Service is 18%
However on some services,tax rate is different
Get Complete list here
Download in PDF FORMAT
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