Hello there, as we all know that GST has arrived and still there are various rumors and havoc regarding Invoicing under the GST regime. Through this post, I would like to share some important points regarding Invoicing.
1. There is “NO FORMAT PRESCRIBED” by the Government. Only a “FEW PARTICULARS” have been mandated in the format. So everyone is free to draft his own format for Invoicing under GST.
2. There are mainly 3 types of Invoices under GST as:
3. The manner of issuing Invoices in GST is as follows :-
Bill of Supply format is provided in Point No. 7
4. Format of TAX INVOICE under GST Regime for Local (State) Taxable Supply of Goods :-
5. Format of TAX INVOICE under GST Regime for Inter-State (National) Taxable Supply of Goods :-
6. Format of BILL OF SUPPLY under GST Regime for Composition Dealers :-
bill of supply format
For EXPORTERS, the declaration will read as follows: “SUPPLY MEANT FOR EXPORT ON PAYMENT OF INTEGRATED TAX” or “SUPPLY MEANT FOR EXPORT UNDER BOND OR LETTER OF UNDERTAKING WITHOUT PAYMENT OF INTEGRATED TAX”.
7. Format of TAX INVOICE under GST Regime for Local (State) Taxable Supply of Services :-
8. Format of TAX INVOICE for Inter-State (National) Taxable Supply of Services :-
9. HSN Codes in the invoices are to be shown as follows :
10. The supplier can opt for different series for numbering their invoices for their convenience. However, the serial number should not be more than 16 digits including alphabets and special characters and should be unique for the financial year.
Do you think CBDT should extend Tax Audit Report and relevant ITR Due Date? Please Comment, Vote, Retweet and Like.— Tax Guru (@taxguru_in) September 18, 2018