GST Tax Invoice, Credit and Debit Notes

Tax Invoice – Sec. 31

1. Tax Invoice is to be issued on or before:

2. Removal of goods, where supply involve movement of goods; or

3. Delivery / making available of goods.

4. In case of services, before or within 30 days after the provision of services showing therein description, quantity, value of goods and tax charged thereon (Rule 2).

5. Tax invoice may not be issued for a value less than Rs. 200/- if it is issued to unregistered person and he is not requiring the same. In such case a consolidated tax invoice may be issued for all such supplies at the close of each day (Proviso to Rule 1).

6. Issue Bill of Supply instead of Tax invoice for exempted supplies or supplies under composite scheme.

7. Issue Receipt Voucher for receipt of advance payment.

8. Issue Refund Voucher for refund of advance payment.

9. Issue Invoice in case Tax is payable on reverse charge basis.

10. Issue Payment Voucher at the time of making payment in case Tax is payable on reverse charge basis.

11. In case of continuous supply, Invoice shall be issued on or before:

12. At the time of statement is issued; or

13. Payment is received; or

14. Due date of payment if date is ascertainable from the contract; or

15. Date of completion of an event / stage where payment is linked to the completion of an event.

16. In case of termination of contract before completion of supply of services, Invoice shall be issued at the time when supply ceases to the extent of supply made.

17. Where the goods are sent on approval for sale, the invoice shall be issued on or before:

18. At the time goods are approved for sale; or

19. 6 months from the date of removal of goods,

20. Whichever is earlier.

Tax Invoice – Rule 1

Details to be mentioned on Tax invoice

1. Name, address and GSTIN of the supplier;

2. A consecutive serial number containing only alphabets and / or numerals, unique for a financial year;

3. date of issue;

4. For Registered recipient

a. Name, address and GSTIN / Unique ID Number of the recipient

b. the address of delivery,

5. For Un-registered recipient

a. Name and address of the recipient;

b. Address of delivery along with name of State and its code, only where the taxable value of supply is fifty thousand rupees or more;

6. HSN code of goods or Accounting Code of services;

7. Description of goods or services;

8. Quantity of goods and units;

9. Total value of supply of goods or services or both;

10. Taxable value of supply of goods or services or both after any discount or abetment;

11. Rate of Tax (Central tax; State tax, Integrated tax or cess)

12. Amount of tax (Central tax; State tax, Integrated tax or cess)

13. Place of supply along with the name of State, in case of a supply in the course of inter- State trade or commerce;

14. Address of delivery where it is different from the place of supply;

15. Whether the tax is payable on reverse charge;

16. Signature or digital signature of the supplier or his authorized representative.

17. For exports of goods or services, tax invoice shall carry an endorsement

“SUPPLY MEANT FOR EXPORT ON PAYMENT OF IGST

OR

“SUPPLY MEANT FOR EXPORT UNDER BOND WITHOUT PAYMENT OF IGST”.

Manner of issuing invoice – Rule 3

1. The invoice shall be issued in triplicate for supply of goods in following manner:

a. Original copy be marked as “ORIGINAL FOR RECIPIENT”;

b. Duplicate copy be marked as “DUPLICATE FOR TRANSPORTER”; and

c. Triplicate copy be marked as “DUPLICATE FOR TRANSPORTER”.

2. The invoice shall be issued in duplicate for supply of services in following manner:

a. Original copy be marked as “ ORIGINAL FOR RECIPIENT”; and

b. Duplicate copy be marked as “ DUPLICATE FOR SUPPLIER”;

3. Serial number of invoices issued during a tax period shall be furnished electronically through the Common Portal.

4. Supplementary tax invoice can be issued containing consecutive serial number.

Bill of Supply – Rule 4

Details to be mentioned on Bill of supply

1. Name, address and GSTIN of the supplier;

2. A consecutive serial number containing only alphabets and / or numerals, unique for a financial year;

3. date of issue;

4. Name, address and GSTIN / Unique ID Number, if recipient is registered

5. HSN code of goods or Accounting Code of services;

6. Description of goods or services;

7. Value of supply of goods or services or both after any discount or abetment;

8. Signature or digital signature of the supplier or his authorized representative.

Receipt Voucher – Rule 5

Details to be mentioned on Receipt voucher

1. Name, address and GSTIN of the supplier;

2. A consecutive serial number containing only alphabets and / or numerals, unique for a financial year;

3. date of issue;

4. Name, address and GSTIN / Unique ID Number, if recipient is registered

5. Description of goods or services;

6. Amount of advance taken;

7. Rate of Tax (Central tax; State tax, Integrated tax or cess)

8. Amount of tax (Central tax; State tax, Integrated tax or cess)

9. Place of supply along with the name of State, in case of a supply in the course of inter- State trade or commerce;

11. Whether the tax is payable on reverse charge;

12. Signature or digital signature of the supplier or his authorized representative.

Credit and Debit Notes – Sec 34.

1. Credit Note shall be issued where:

2. axable value or tax charged in tax invoice is found to exceed actual  the taxable value or tax payable; or

3. Where goods are returned; or

4. Goods or services found to be deficient

5. Such credit note shall be shown in the monthly return in which it has been issued but not later than:

6. September of next FY; or

7. Form the date of filling annual return

whichever is earlier.

8. Debit Note shall be issued where taxable value or tax charged in tax invoice is found to be  less than  actual  the taxable value or tax payable.

9. Debit note shall be shown in the monthly return in which it has been issued.

10. Debit note includes supplementary invoices also.

Supplementary  tax invoice  and Credit and Debit Note– Rule 6

Details to be mentioned on Supplementary tax invoice and Credit and Debit Note

1. For Revised / supplementary Invoice, the word “Revised Invoice” or “Supplementary Invoice” to be indicated prominently;

2. Name, address and GSTIN of the supplier;

3. Nature of document;

4. A consecutive serial number containing only alphabets and / or numerals, unique for a financial year;

5. date of issue;

6. Name, address and GSTIN / Unique ID Number, if recipient is registered

7. For Un-registered recipient

a. Name and address of the recipient;

b. Address of delivery along with name of State and its code,

8. Serial number and date of the corresponding tax invoice or as the case may be bill of supply;

9. Value of taxable supply of goods or services, rate of Tax, amount of tax credited or debited to the recipient; and

10. Signature or digital signature of the supplier or his authorized representative.

1. Every Registered taxable person who has been granted registration with effect from a date earlier than the date of issuance of certificate of registration to him, may issue revised tax invoices in respect  of taxable supplies effected during the period starting from the effective date of registration till the  date of issuance of certificate of registration

Provided that registered taxable person may issue a consolidated revised tax invoice in respect of all taxable supplies to unregistered recipient during such period.

Provided further that in case of inter-state supplies, a consolidated revised tax invoice may be issued in respect of all recipients  of a particular state, if value per supply is less than for Rs. 2,50,000/- .

2. Any debit note issued in pursuance of any tax payable u/s 74, 129, 130 shall prominently contain the words “Input Tax Credit Not Admissible”.

Tax Invoice in special cases– Rule 7

Details to be mentioned on Input Service Distributor (ISD) invoice or on credit note issued by ISD

1. Name, address and GSTIN of the input service distributor;

2. Serial number containing only alphabets and / or numerals, unique for a financial year;

3. Date of its issue;

4. Name, address and GSTIN of the supplier of services,

5. The credit as passed on by supplier

6. Serial number and date of invoice issued by such supplier;

7. Name, address and GSTIN of the recipient to whom the credit is distributed;

8. Amount of the credit distributed;

9. Signature or digital signature of the supplier or his authorized representative:

Details to be mentioned on Tax invoice or any other document in lieu thereof by Goods Transport Agency

1. The gross weight of the consignment,

2. Name of the consignor and the consignee,

3. Registration number of goods carriage in which the goods are transported

4. Details of goods transported

5. Details of place of origin and destination

6. GSTIN of the person liable for paying tax whether as consignor, consignee or goods transport agency

7. Other information as prescribed for tax invoice under rule 1.

In case of Passenger Transportation Services:

1. Tax invoice shall include ticket in any form by whatever name called;

2. Whether or not serially numbered; and

3. Whether or not containing the address of the recipient of the service;  but

4. Must contain other information as prescribed under rule 1.

Transportation of goods without issue of invoice– Rule 8

1. For the purposes of –

2. Supply of liquid gas where the quantity at the time of removal from the place of business of the supplier is not known,

3. Transportation of goods for job work,

4. Transportation of goods for reasons other than by way of supply, or

5. Such other supplies as may be notified by the board,

the consigner may issue a delivery challan, serially numbered in lieu of invoice at the time of removal of goods for transportation, containing the following details:

1. Date and number of the delivery challan,

2. Name, address and GSTIN of the consigner, if registered,

3. Name, address and GSTIN or UIN of the consignee, if registered

4. HSN code and description of goods,

5. Quantity (provisional, where the exact quantity being supplied is not known),

6. Taxable value,

7. Tax rate and tax amount – central tax, state tax, integrated tax, union territory tax or cess, where the transportation is for supply to the consignee,

8. Place of supply, in case of inter-state movement, and

9. Signature.

2. The delivery challan shall be prepared in triplicate, in case of supply of goods, in the following manner:–

1. the original copy being marked as ORIGINAL FOR CONSIGNEE;

2. the duplicate copy being marked as DUPLICATE FOR TRANSPORTER; and

3. the triplicate copy being marked as TRIPLICATE FOR CONSIGNOR.

3. Where goods are being transported on a delivery challan in lieu of invoice, the same shall be declared in FORM [WAYBILL].

4. Where the goods being transported are for the purpose of supply to the recipient but the tax invoice could not be issued at the time of removal of goods for the purpose of supply, the supplier shall issue a tax invoice after delivery of goods.

5. Where the goods are being transported in a semi knocked down or completely knocked down condition,

1. the supplier shall issue the complete invoice before dispatch of the first consignment

2. the supplier shall issue a delivery challan for each of the subsequent consignments, giving reference of the invoice;

3. each consignment shall be accompanied by copies of the corresponding delivery challan along with a duly certified copy of the invoice; and

4. the original copy of the invoice shall be sent along with the last consignment.

A detailed presentation is also available on youtube at the URL https://youtu.be/DGASYO5tuBA

The author is a practising CA and is registered Insolvency Professional. He can be reached at cavinodchaurasia@gmail.com , Mob. +91 9953587496.

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One response to “All about GST Tax Invoice, Credit and Debit Notes”

  1. vinodchaurasia says:

    A detailed PPT presentation is also available on youtube at the URL https://youtu.be/DGASYO5tuBA

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