Invoicing Rules Under GST In India:– A GST Registered Dealer required to provide the Invoices known as bills to your clients. Tax Payer can aware of how to prepare the GST Invoice. Many of GST Dealers raised questions of the GST are below.
- What is A GST Invoice?
- Who Should Issue GST Invoice?
- What are the Important Fields a GST Invoice Should need?
How many types of GST Invoices are available
An Invoice or Bill which provides the list of the products or services details with tax and other exemptions is called a GST Invoice. Who should general issue the GST Invoice For the Client.? If a seller who is registered their Business Under the GST. Can provide the GST Complaint Invoices to the Client and Sale of Goods or Services.
Are you GST Registered Vendors we will provide the GST Compliant Purchase of Invoices to You.
Mandatory Fields of GST Invoice
In General For any Bill or Invoice some of the Things should be mandatory to appear at the Input Tax Credit while we are passing the Bill. The Following are things a Person while buying the Goods or taking the services must and should Notice.
- Invoice Number and Date.
- Customer Name.
- Shipping and Billing Address.
- Customer and Tax Payers GSTIN.
- Place of Supply.
- HSN Code/SAC Code.
- Product Details:- Description, Quantity, Unit, Total Value.
- Taxable Value and Discounts.
- Rate and Amount of Taxes.
- Signature of the Supplier.
The Candidates is not registered and value is more than Rs 50,000 then the invoice should carry
- Name and Address of the Recipient.
- Address of Delivery.
- State Name and State Code.
Here we provide the Invoice for the Best Reference.
When Should You Issue Invoices?
The GST Act has Defined time limit to issue GST Tax Invoices, Revised Bills, Debit Notes and Credit Notes.
Services Banks and NBFCs Supply of Services.
How to Personalize GST Invoices?
Candidates need to personalize the Invoice with your Companies Logo and can make the bills online for free of cost using some of the softwares like Cleartax, Bill of GST, ..etc.
What are the Types of Invoices?
A bill of Supply is familiar with the GST Invoice Only the Bill of Supply Does not Contain any Tax Amount as the Seller cannot charge the GST to the Buyer.
- A Bill of Supply is Issued in the cases where the Tax Cannot be Charged.
- Registered Person is Selling exempted Goods or Services.
- Registered Person has Opted For Composition Scheme.
Invoice Cum Bill of Supply:- Tax Payer who is registered under the GST is supplying the Exempted and Taxable goods to the Unregistered Person can provide the Invoice Cum Bill of Supply.
Many of the TaxPayers asked that what is Aggregate Invoice. Here we say Multiple Invoices is less than Rs 200 and The Buyer is Unregistered can issue an Aggregate or Bulk Invoice For the Multiple Invoices on the Daily Basis.
For Example, You May Issued 3 Invoices in a Day Rs 80, Rs 90 and Rs 120. In that case, you can also Issue a single Invoice Totaling to Rs 290 Bill is known as Aggregate Invoice.
Debit and Credit Note
A Debit Note has issued by the seller when the Amount needs to Payable by the Buyer to Seller Increases.
- Tax Invoice needs lower Taxable Value than the Amount that should have been charged.
- Tax Invoice has a lower-Value than the Amount that Should have Been Charged.
A Credit Note is published by the seller when the value of Invoice Decreases.