GST invoice is the bill raised by the registered taxpayer at the time of sale of goods and/or services.
Invoice in case of Goods needs to be issued before or at the time of:
Removal of goods for supply in case the supply involved movement of goods
Delivery of Goods in any other case.
Invoice in case of Services needs to be issued:
Before the provision of services
After the provision of services, within the time prescribed.
A GST Invoice must contain the following details:
Customer Name, Address and GSTIN
Date
Serial Number of Invoice
Seller Name, Address and GSTIN
HSN Code(of Goods) / Accounting Code (of Services)
Description of Goods and/or services
Quantity in case of goods and unit or Unique Quantity Code thereof
Total Value of the Goods and/or services
taxable value of supply of goods and/or services taking into account discount or abatement, if any
Rate of Tax
Amount of Tax
Place of Supply
Address of delivery where the same is different from the place of supply
Whether the tax is payable on reverse charge basis or not
Signature or digital signature of the supplier or his authorized representative.
3 copies
Original for Recipient
Duplicate for Transporter
Triplicate for Supplier
2 copies
Original for Recipient
Duplicate for Transporter
In case the value of goods and/or services is less than INR 200/-
Person supplying exempted goods (in such case Bill of Supply is issued)
Person paying tax under composition levy scheme (in such case Bill of Supply is issued)
If a registered person is supplying taxable as well as exempted goods/ services to an unregistered person, then he can issue a single "invoice-cum-bill of supply" for all such supplies. (Notification No. 45/2017 – Central Tax)
Receipt Voucher is issued by the registered person
In case of receipt of advance payment and issue of receipt voucher for the same, sale is not effected later on or invoice is not issued, Refund Voucher can be issued against such payment
Credit Notes are issued in following cases:
Taxable Value declared in the Invoice exceeds the actual taxable value
Tax amount charged in the Invoice exceeds the actual tax payable
Goods supplied are returned back
Goods and / or Services are found to be deficient.
Taxable Value declared in the Invoice is lower than the actual taxable value to be charged
Tax amount charged in the Invoice is lower than the actual tax payable.
