GST Invoice Requirements

Following are the requirement for issue of invoice under GST, there are basically Tax Invoice for Taxable supplies and Bill of supply for Exempted goods and composition goods, one invoie can be issued for multiple trucks, if required we can ask the transport agency to prepare the Transporter invoice for each truck depending on the main invoice, as there is no waybill required, this may not be essential

Types of Invoices and documens to be prepared

Tax Invoie -- for Normal sale or Export sale, Self Invoice for reverce charge mechanisum

Bill of supply -- for Exempted goods sale or composistion

Advance voucher -- for receipt of advance for taxable supply only

Payment Voucher -- Payment voucher to be issued for all the payments made on which GST is payble on reverse  charge method

Refund Voucher --  Refund voucher to be issued against the Advance voucher when the payment is made in Advance and No supply executed on the same and the amount is refund back to the payee.

Revised  Invoice --  Only for correction of clerical erros and typographical erros

Debit Note  -- to be issued in case of Increase in value and increase in the tax chargable

Credit Note -- to be issuedi in case of decrease in vaoue and decrase in the tax chargable

Serial number and sequence number of all the invoices issued to be reported in GSTR 1 Form for the period.

Self invoice to be prepared on the date of receipt of the good or service under reverse charge mechanisum and the same to be reported in GSTR 2 form for the period.

 

Prescribed Particulars of a Tax Invoice:

A) A tax invoice issued by the supplier shall contain the following details:-

a.	Type of Invoice (Tax Invoice, Revised Invoice or Supplementary Invoice)
b.	Name, address and GSTIN of the supplier
c.	A consecutive serial number unique for a financial year (can have alphabets and/or numerals or “–“ and “/” and any combination thereof)
d.	Date of  issue of Invoice
e.	Name, address and GSTIN/ Unique ID Number, if registered, of the recipient
f.	Name and address of the recipient and the address of delivery, along with the name of State and its code, if such recipient is unregistered and where the taxable value of supply is fifty thousand rupees or more.
g.	HSN code of goods or Accounting Code of services.(Council may issue notification to specify number of digits to be mentioned by each class of persons)
h.	Description of goods or services.
i.	Quantity in case of goods and unit or Unique Quantity Code thereof.
j.	Total value of goods or services.
k.	Taxable value of goods or services taking into account discount or abatement, if any.
l.	Rate of tax (CGST, SGST/UTGST, Cess or IGST)
m.	Amount of tax charged in respect of taxable goods or services (CGST, SGST/UTGST, Cess or IGST)
n.	Place of supply along with the name of State, in case of a supply in the course of inter-State trade or commerce
o.	Place of delivery where the same is different from the place of supply.
p.	Whether the tax is payable on reverse charge.
q.	Signature or digital signature of the supplier or his authorized representative

B. When tax invoice is issued by an  exporter then invoice should have the additional information:

a.	An endorsement “supply meant for export on payment of IGST” or “supply meant for export under bond or letter of undertaking without payment of IGST”, as the case may be.
b.	Name of the country of destination; and
c.	Number and date of application for removal of goods for export.

C) When tax invoice is issued by an Input Service Distributor (ISD) then invoice should have the information

a.	Name, address and GSTIN of the ISD
b.	A consecutive serial no. containing only alphabets & numerals, unique for a financial year*
c.	Date of issue
d.	Name, address and GSTIN of the supplier of service, along with serial no. & date of invoice issued by such supplier, the credit in respect of which is being distributed
e.	Name, address and GSTIN of the recipient of credit
f.	Amount of credit distributed
g.	Signature or digital signature of the supplier(ISD) or his authorized signatory

D) When tax invoice is issued by a Banking company / NBFC / financial institution Information then following information is not essential

a.	Invoice serial no.
b.	Address of the recipient

D) When tax invoice is issued by a Goods transport agency then invoice should have the following additional information

a.	Gross weight of the consignment
b.	Name of the consignor & the consignee
c.	Registered no. of goods carriage, used for transportation
d.	Details of goods transported
e.	Details of place of origin & destination
f.	GSTIN of person liable for paying tax.

F) When tax invoice is issued by a supplier of passenger transport service address of the recipient is not essential.

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