Invoicing Under GST

Invoicing Under GST
Updated on Jun 28, 2017 - 12:40:43 PM
Under GST invoicing rules and formats have been notified covering details
such as supplier’s name, shipping and billing address, HSN Code, place of
supply, rate. In this article we will be covering all aspects of invoicing
under GST.
Time limit to for invoicing under GST

The GST Model law has defined the time limit for issue of GST tax
invoices, revised bills, debit notes and credit note.
Following are the due dates for issuing an invoice to customers:
 Supply of Goods (Normal case)- On or before date of removal/

delivery
 Supply of Goods (Continuous Supply)- On or before date of issue of
account statement/ payment
 Supply of Services (General case)- within 30 days of supply of
services
 Supply of Services (Banks & NBFCs)- within 45 days of supply of
services
Revise Already Issued Invoices under

pre-GST regime
Revised tax invoices can be issued by a registered taxable person within
one month from issuance of certificate of registration i.e. GST
Registration. It will be issued against the invoice already issued during the
period starting from the effective date of registration till the date of
issuance of certificate of registration to him
What is Bill of Supply?

Tax invoice is generally issued to charge the tax and pass on the credit. In
GST there are some instances where the supplier is not allowed to charge
any tax and hence a Tax invoice can’t be issued instead another
document called Bill of Supply is issued.
How to raise aggregate invoices?

Where the value of invoice is less than Rs 200 and the recipient is an
unregistered, registered taxpayer, he or she can issue an aggregate
invoice for such multiple invoices on a daily basis.
For example, you may have issued 3 invoices in a day of Rs.80, Rs90 and
Rs120. In such a case you can issue a single invoice, totaling to Rs290, to
be called an aggregate invoice.
When is debit note issued?

Debit note is to be issued by supplier:
1. Original tax invoice has been issued and taxable value in the invoice
exceeds actual taxable value.
2. Original tax invoice has been issued and tax charged in the invoice
exceeds actual tax to be paid.
When is credit note issued?

Credit note is to be issued by supplier:
1. Original tax invoice has been issued and taxable value in the invoice
exceeds actual taxable value.
2. Original tax invoice has been issued and tax charged in the invoice
exceeds actual tax to be paid.
3. Recipient refunds the goods to the supplier
4. Services are found to be deficient
What are the specific mandatory

fields in an GST compliant invoice?
To issue and receive a GST compliant invoice is a prerequisite to claim
ITC. If a taxpayer does not issue such invoice his customer loses ITC
claim and the taxpayer loses its customers. Here we mention the
mandatory fields in an invoice:
1. Invoice number and date

2. Customer name
3. Shipping and billing address
4. Customer and taxpayer’s GSTIN
5. Place of supply
6. HSN code
7. Taxable value and discounts
8. Rate and amount of taxes i.e. CGST/ SGST/ IGST
9. Item details i.e. description, unit price, quantity
What are the various types of
invoices or supporting documents?
All different types of GST compliant invoices such as:
 sales invoices
 purchase invoices
 bill of supply
 credit notes
 debit notes
 advance receipts
 refund vouchers
 delivery challans (for supply on approval, supply of liquid gas, job
work and other).
Manner of issuing invoices

What’s the diff between invoice date
and due date?
Invoice date refers to the date when the invoice is created on the billbook,
while the due date is when the payment is due against the invoice.
How to issue an invoice under

reverse charge?
Here, you not issue an invoice different from usual sales or purchase
invoices. The only additional requirement is that you need to mention on
the invoice that tax is paid on reverse charge.
Is it mandatory to maintain invoice

serial number?
Yes, invoice serial number must be maintained strictly.
For example, if invoice is being issued with serial number as INV001, the
same format must be maintained. You may change the format by providing
a written intimating the GST department officer along with reasons for the
same
What all details are required to be

mentioned in GSTR-1 for documents
issued?
For the following nature of documents issued number of documents
prepared, cancelled and net issued along with serial number of each must
be mentioned:
1. Invoices for outward supply

2. Invoices for inward supply from unregistered person
3. Revised Invoice
4. Debit Note
5. Credit Note
6. Receipt voucher
7. Payment Voucher
8. Refund voucher
9. Delivery Challan for job work
10. Delivery Challan for supply on approval
11. Delivery Challan in case of liquid gas
12. Delivery Challan in cases other than by way
Can I sign my invoice through DSC?

Yes, you may digitally sign your at our software through DSC and
authentic your invoice. In case you do not have a DSC, we also provide an
option to sign through Aadhaar number.

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Invoicing Under GST

Updated on Jun 28, 2017 - 12:40:43 PM

Time limit to for invoicing under GST

Following are the due dates for issuing an invoice to customers:

 Supply of Goods (Normal case)- On or before date of removal/

Revise Already Issued Invoices under

What is Bill of Supply?

How to raise aggregate invoices?

When is debit note issued?

When is credit note issued?

What are the specific mandatory

1. Invoice number and date

Manner of issuing invoices

How to issue an invoice under

Is it mandatory to maintain invoice

What all details are required to be

1. Invoices for outward supply

Can I sign my invoice through DSC?

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