Under the GST regime, a tax invoice means the tax invoice referred to in section 31 of the CGST Act, 2017. For example, if a registered person is making or receiving supplies (from unregistered persons), then a tax invoice needs to be issued by such registered person. However, if a registered person is dealing only in exempted supplies or is availing the composition scheme (composition dealer), then such a registered person needs to issue a bill of supply in lieu of tax invoice. An invoice or a bill of supply need not be issued if the value of the supply is less than Rs. 200/-, subject to specified conditions provisos to sub section (3) of Section 31 of the CGST Act, 2017.
Contents of tax invoice:
(a) Name, address and GSTIN of the supplier
(b) A consecutive serial number, in one or multiple series, containing alphabets or numerals or special characters like hyphen or dash and slash symbolised as “-” and “/” respectively, and any combination there of, unique for a financial year
(c) Date of its issue
(d) Name, address and GSTIN or UIN, if registered, of the recipient.
(e) Name and address of the recipient and the address of delivery, along with the name of State and its code, if such recipient is un-registered and where the value of taxable supply is fifty thousand rupees or more
(f) HSN code of goods or Accounting Code of Services
(g) Description of goods or services
(h) Quantity in case of goods and unit or Unique Quantity Code there of
(i) Total value of supply of goods or services or both
(j) Taxable value of supply of goods or services or both, taking into account the discount or abatement, if any (k) Rate of tax (Central tax, State tax, Integrated tax, union territory tax or cess)
(l) Amount of tax charged in respect of taxable goods or services (Central tax, State tax, Integrated tax, union territory tax or cess)
(m) Place of supply along with the name of State, in case of a supply in the course of inter-State trade or commerce
(n) Address of delivery where the same is different from the place of supply
(o) Whether the tax is payable on reverse charge basis
(p) Signature or digital signature of the supplier or his authorized representative
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