Goods & Services Tax-GST Invoicing

Overview

As a dealer registered under the Goods and Services Tax (GST) system, it is mandatory for you to furnish GST Invoices, commonly referred to as GST bills, to your clients.

What is GST invoicing?

An invoice, often called a GST bill, is a document that lists the goods delivered or services rendered, along with the corresponding amount that needs to be paid.

Who Shall Issue GST Invoice?

• If you are a GST-registered business, you must issue GST-compliant invoices to your clients when selling goods and/or services.
• Your GST-registered suppliers will provide you with GST-compliant purchase invoices.

Important Fields In GST Invoice:

Here are the mandatory fields that a GST Invoice should include:

• Invoice number and date
• Customer's name
• Shipping and billing address
• Customer's and taxpayer's GSTIN (if registered)
• Place of supply
• HSN code/SAC code
• Item details, including description, quantity (number), unit (meter, kg, etc.), total value
• Taxable value and any applicable discounts
• Rate and amount of taxes, such as CGST, SGST, or IGST
• Indication of whether GST is payable on a reverse charge basis
• Signature of the supplier

Note: If the recipient is not registered and the invoice value is more than Rs. 50,000, then the invoice should also include:

• Name and address of the recipient
• Delivery address
• State name and state code

Due Date For Providing GST Invoice:

The invoice for taxable services can be issued either before or after the provision of the service. However, it must be issued within a maximum period of 30 days from the service's provision.

For Banking and Financial Services Institutions (BFSIs), this period is extended to 45 days.

GST Tax Invoice Rules:

Invoice Serial Number Rules:

• Invoice numbers must be sequential and unique for a financial year.
• The serial number should not exceed 16 characters.
• GST should be split into CGST, SGST, and IGST, not charged as a whole.

Invoice Signature Rules:

• Invoices can be signed manually or digitally as per the IT Act, 2000.
• The invoice must be signed by the supplier or their authorized representative.

Payment Rules:

• When a GST-registered individual buys from an unregistered entity, they must issue a tax invoice.
• For supplies exempt from GST, a bill of supply is issued instead of a tax invoice.

Benefit

Tax & Process

Documents Required

Procedure

FAQ's