An invoice or a bill could be a list of products sent or services provided, at the side of the number due for payment.
You can produce GST compliant invoices freed from price victimization Aapka Tax AI software system
If you're a GST registered business and you wish to produce GST-complaint invoices to your clients for sales of goods and services.
Your GST registered vendors can offer GST-compliant purchase invoices to you.
A tax invoice is mostly issued to charge the tax and expire the input diminution
A GST Invoice should have the subsequent necessary fields:
1. Invoice variety and date
2. Client name
3. Shipping and charge address
4. Client and taxpayer’s GSTIN (if registered)**
5. Place of provide
6. HSN code/ SAC code
7. Item details i.e. description, amount (number), unit (meter, kg etc.) and total worth
8. Subject worth and discounts
9. Rate and quantity of taxes i.e. CGST/ SGST/ IGST
10. Whether or not GST is collectible on reverse charge basis
11. Signature of the provider
**If the recipient isn't registered and therefore the worth is over Rs. 50,000 then the invoice ought to carry the Subsequent:
i. name and address of the recipient,
ii. address of delivery,
iii. state name and state code
The GST Act has outlined point in time to issue GST tax invoices, revised bills, debit notes, and credit note.
You can personalize your invoice together with your company’s brand. The AapkaTax BillBook permits you to make and personalize GST Invoice.
A. Bill of Supply
A bill of supply is comparable to a GST invoice apart from that bill of supply doesn't contain any tax quantitybecause the vendor cannot charge GST to the client.
A bill of supply is issued in cases wherever tax cannot be charged:
• Registered person is commercializing exempted goods/services,
• Registered person has opted for composition theme
Invoice-cum-bill of Supply
As per Notification No. 45/2017 – Central Tax dated thirteenth of July 2017. If a registered person is activity subject in addition as exempted goods/ services to an unregistered person, then he will issue one “invoice-cum-bill of supply” for all such supplies.
B. Aggregate Invoice
If the worth of multiple invoices is a smaller amount than Rs. two hundred and therefore the customer are unregistered, the vendor will issue an aggregate or bulk invoice for the multiple invoices on a routine. For example, you will have issued three invoices in an exceedingly day of Rs.80, Rs.90 and Rs. 120. In such a case, you'll issue one invoice, totaling to Rs290, to be referred to as an aggregate invoice.
C. Debit and credit note
A debit note is issued by the vendor once the number collectible by the client to seller increases:
1. Tax invoice includes a lower subject worth than the number that ought to be are charged
2. Tax invoice includes a lower tax worth than the number that ought to be charged
A credit note is issued by the vendor once the worth of invoice decreases:
1. Tax invoice includes a higher subject worth than the number that ought to be charged
2. Tax invoice includes a higher tax worth than the number that ought to be charged
3. Customer refunds the products to the provider
4. Services are found to be deficient
Yes. You’ll be able to revise invoices issued before GST. Under the GST regime, all the dealers should apply for provisionaryregistration before obtaining the permanent registration certificate.
This applies to all or any the invoices issued between the date of implementation of GST and therefore the date your registration certificate has been issued. As a dealer, you need to issue a revised invoice against the invoices already issued. The revised invoice has got to be issued inside one month from the date of issue of the registration certificate.
For goods– three copies
For services– a pair of copies
In some cases, like banking, traveler transport, etc., the government has provided relaxations on the invoice format issued by the provider.