GST Invoice: Learn All About GST Invoice Format & Rules

What is GST Invoice ?

Before we know about the rules and format of GST Invoice, we should first comprehend what a GST invoice is. A GST invoice is a document which should contain all the relevant details of a business transaction and both the parties included. It must include the product name, portrayal, amount, details of the provider and the buyer, terms of offers, rate charged, rebates, and etc.

Different Types of Invoices under GST: 

• Purchases Invoice
• Sales Invoice
• Bill of Supply 
• Conveyance challans (for supply on an endorsement, supply of fluid gas, work and others) 
• Debit notes 
• Credit notes 
• Advance receipts 
• Refund vouchers 

The GST Invoice Rules, 2016 fundamentally request two Type of invoices – Tax Invoice and Bill of Supply.

GST Due Dates: GSTR 1 GSTR 3B GSTR 4 GSTR 5 GSTR 5A GSTR 6 TRAN 2

Tax Invoice 

An assessment receipt is a record, which is issued when an assessable individual, supplies any item or administration to somebody.

Tax Invoice Format 

All invoices issued by organizations under the GST ought to contain these 16 points:

1. Name, address, and GSTIN of the supplier. 
2. Tax invoice number
3. Date of its issue. 
4. Name, address and GSTIN or UIN, if register, of the recipient. 
5. Name and address of the recipient and the address of conveyance, alongside the name of the state and its code, if such recipient is unregistered and where the estimation of assessable supply is Rs at least 50,000. 
6. HSN Code of goods or Accounting Code of administrations. 
7. The portrayal of goods or services. 
8. Quantity, in the event of goods and unit or Unique Quantity Code thereof. 
9. Add up to the estimation of supply of goods or services or both. 
10. The taxable value of the supply of products or administrations or both, considering markdown or decrease, assuming any. 
11. Rate of tax (focal duty, state impose, incorporated expense, association domain charge or cess). 
12. Amount of tax charged in regard to assessable products or administrations (focal duty, state impose, coordinated expense, association domain charge or cess). 
13. Place of supply alongside the name of the state, if there should be an occurrence of a supply over the span of between state exchange or business. 
14. Address of conveyance where the same is not quite the same as the place of supply. 
15. Regardless of whether the expense is payable on switch charge premise. 
16. Signature or digital signature of the provider or his approved delegate. 

Bill of supply 

One of the main motives of a tax invoice is to charge tax from the buyer for the government's behalf. However, there are a few special cases to this in GST, since a provider can't charge tax and thus, a normal tax receipt can't be issued. In such cases, the report that will be issued is known as a Bill of Supply. A Bill of Supply is like an assessment receipt, aside from that the Bill of Supply does not contain any tax amount, as the merchant can't charge GST to the purchaser.

A bill of supply is issued in situations where tax can't be charged, for instance:

• The enrolled individual is selling exempted goods or services. 
• The enrolled individual has opted for a composition scheme. 
• The party is unregistered.

Details / Document Required in a GST Invoice 

The tax invoice issued should clearly mention information under the accompanying 16 headings:
1. Name, address and GSTIN of the provider
2. Expense receipt number (it must be produced continuously and each assessment receipt will have a one of a kind number for that financial year)
3. Date of issue
4. In the event that the purchaser (recipient) is enrolled then the name, address and GSTIN of the recipient
5. On the off chance that the recipient isn't enlisted AND the esteem is more than Rs. 50,000 then the receipt should convey:
I. Name and address of the recipient,
ii. address of conveyance,
iii. state name and state code
6. HSN code of products or bookkeeping code of services**
7. Description of the goods/services
8. Quantity of product (number) and unit (meter, kg and so forth.)
9. Add up to an estimation of supply of goods/services
10. Assessable estimation of supply in the wake of changing any markdown
11. Appropriate rate of GST
(Rates of CGST, SGST, IGST, UTGST and cess plainly specified)
12. Measure of assessment
(With the separation of measures of CGST, SGST, IGST, UTGST and cess)
13. Place of supply and name of goal state for between state deals
14. Conveyance address in the event that it is not quite the same as the place of supply
15. Regardless of whether GST is payable on turn around charge premise
16. Signature of the provider

How to generate Consolidated Eway Bills on the E Way Bill portal?

Who should issue GST Invoice? 

If you are a GST enrolled business, you have to give GST-complaint invoice to your customers available to be purchased of good as well as administrations.

Your GST enrolled merchants will give GST-compliant buy invoice to you.

Best GST Invoice Software:

Gen GST is a GST-ready desktop & online software which is designed for Indian users. It is fast, easy and best billing software in India. Via Gen GST you can easily create GST Invoice, and file GST returns.