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How Many Types of  Invoice in GST?

There will be 2 types of Invoices in GST

  1. Tax Invoice
    It is to be used for all types of taxable Sales
  2. 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

1-types-of-invoices-under-gst---tax-invoice-bill-of-supply.jpg

How will Tax be Charged on Bills

On Local Sales,CGST+SGST will be Charged

On Central Sales,IGST will be Charged

  Example

2-gst-invoice-in-case-of-local-sales-within-state-and-central-sales-outside-state---rate-12-percent.jpg

Similarly on Services, Also Same tax will  be charged

Example

3-gst-invoice-in-case-of-local-sales-within-state-and-central-sales-outside-state---rate-18-percent.jpg

 

Compulsory Items Required in Tax invoice in GST

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  1. Name,  Address, GSTIN No of Supplier
  2. 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
  3. Date of Issue of Invoice
  4. Name , Address ,GSTIN of Supplier If Registered
  5. In Case of Unregistered Buyer, Name, Address, State, Place of Delivery is compulsorily required if Invoice Value before taxes is more than 50000
  6. HSN Code of Goods
  7. Description of Goods
  8. Quantity as well as Quantity Code or Units
  9. Total Value
  10. Discount if any and Taxable Value (Total Value-Discount)
  11. Rate of Tax (Separately show CGST, SGST, withountIGST, UTGST, Cess if any)
  12. Place of Supply (It is required For Interstate Sales)
  13. Address for Delivery
  14. Whether Tax is Payable Under Reverse Charge
  15. Signature/Digital Signature of Authorized Signatory

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Sample Format of Tax Invoice in GST

 

TAX INVOICE ON GOODS LOCAL

4-tax-invoice-on-goods-local-gst.jpg

TAX INVOICE ON GOODS CENTRAL

  5-tax-invoice-on-goods-central-gst.jpg

 

Download in Excel Format

 

TAX INVOICE ON SERVICES LOCAL

6-tax-invoice-on-services-local-gst.jpg

TAX INVOICE ON SERVICES CENTRAL

7-tax-invoice-on-services-central-gst.jpg

Download in Excel Format

 

QUESTIONS

Can Cash Sales InvoIce Be issued without Mentioning Buyer Name?

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Yes

This can be done only if

Sale is to Unregistered

Taxable Value (Amount before taxes) is upto 50000

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For Different Cash Sales during the day, Can One Bill to be issued or Separate?

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If taxable value (amount before taxes) is upto 200

And

Buyer Does not ask for bill

Single invoice can be issued for one day sales

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What is HSN Code of Item

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Full 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

 

 

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Is Mentioning HSN Code Compulsory on Invoice?

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It 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)

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How Many Copies of Invoice to be Issued?

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As per Rule 3 of GST Revised Invoice Rules:

  1. The invoice shall be prepared in triplicate, in case of supply of goods, in the following manner:–
    1. the original copy being marked as ORIGINAL FOR RECIPIENT;
    2. the duplicate copy being marked as DUPLICATE FOR TRANSPORTER; and
    3. the triplicate copy being marked as TRIPLICATE FOR SUPPLIER.

  2. The invoice shall be prepared in duplicate, in case of supply of services, in the following manner:-
    1. the original copy being marked as ORIGINAL FOR RECIPIENT;  and
    2. the duplicate copy being marked as DUPLICATE FOR SUPPLIER.

  3. The serial number of invoices issued during a tax period shall be furnished electronically through the Common Portal in FORM GSTR-1.

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 How to check Tax Rate on Services to be charged on Bill?

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Normal Tax Rate on Service is 18%

However on some services,tax rate is different

Get Complete list here

http://www.teachoo.com/6339/1903/Tax-Rate-in-GST-on-Services/category/GST-Basics/

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Download in PDF FORMAT

 
 
 
Real Bill Example for Restaurant Business
8-real-bill-of-restraunt-with-gst.jpg
  1. GST - Goods and Services Tax, India
  2. GST Return, Challan and Invoice Format
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About the Author

CA Maninder Singh's photo - Expert in Practical Accounts, Taxation and Efiling
CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 6 years. He provides courses for Practical Accounts, Taxation and Efiling at teachoo.com .
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