 |
| GOODS AND SERVICES TAX |
The first step to becoming GST-compliant is creating correct
invoices. However, not everyone knows what a GST compliant actually is Below
is the about GST invoicing and how to go about creating one –
GST Compliant Invoice/bills- GST Invoice details: Essential
information. -
A registered person must issue a tax invoice before, or at of
removal of goods for supply to the recipient. For supplying services, GST
invoice can be issued before, at, or even the time of supply.
Information required in a GST Invoice:-
The tax invoice issued must be clearly mention information
under the following 16 headings:
- Name, address and GSTIN of the supplier
- Tax Invoice Number (It must be generated consecutively and each tax invoice will have unique number for that financial year)
- Date of Issue
- If the buyer is registered then Name, Address and GSTIN of the recipient
- If The buyer is not registered and invoice value is more than Rs. 50000 then invoice should carry :
- Name and Address of the recipient
- Address of delivery
- State Name and State Code.
- HSN codes of goods and Accounting codes of Services
- Description of goods and services
- Quantity of goods(Number) and Units (Meter,KG Etc.)
- Total Value of supply of goods and services
- Taxable value of supply after adjusting any discount
- Applicable rate of (CGST, SGST, IGST, UGST and CESS Clearly mentioned)
- Amount of tax (with breakup amount of CGST, SGST, IGST and CESS)
- Place of and name of destination State for the inter-state supply
- Delivery address if it different from the place of supply
- Whether GST is payable on Reverse Charge Basis
- Signature of Supplier
- Turn-over less than 1.5 crores- HSN code not required to be mention
- Turn-over between 1.5-5 Crores Can use 2 digit HSN code
- Turn-over more than 5 Crores must use 4 digit HSN codes
EmoticonEmoticon