Tax Invoice under GST

Tax Invoice

 

Supply such as sale, transfer, barter, exchange, license, rental, lease or disposal.

 

A registered person supplying taxable goods shall, before or at the time of,   (a)  removal of goods-involves movement of goods; or   (b)  delivery of goods or making available -in any other case,

 

A registered person supplying taxable services shall, before or after the provision of service but within a prescribed period

 

Within one month from the date of issuance of certificate of registration, issue a revised invoice against the invoice already issued.

 

Tax invoice may not issue if the value of goods or services or both supplies is less than two hundred rupees'

 

Tax invoice contain

·         name, address and GSTIN of the supplier

·         a consecutive serial number

·         date of its issue

·         name, address and GSTIN or UIN, if registered, of the recipient

·         name and address of the recipient and the address of delivery-un registered person where taxable supply more than Rs. 50,000/-

·         HSN code of goods or Accounting Code of services

·         description of goods or services

·         total value of supply of goods or services or both

·         taxable value of supply of goods or services or both considering discount or abatement, if any;

·         rate of tax

·         amount of tax charged in respect of taxable goods or services

·         place of supply along with the name of State

·         address of delivery where the same is different from the place of supply

·         whether the tax is payable on reverse charge basis

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

Exports invoice shall carry an endorsement "SUPPLY MEANT FOR EXPORT ON PAYMENT OF IGST" or "SUPPLY MEANT FOR EXPORT UNDER BOND OR LETTER OF UNDERTAKING WITHOUT PAYMENT OF IGST"

 

Supplying exempted goods or services or both or paying tax under composition scheme shall issue a bill of supply.

 

Advance payment - issue a receipt voucher

 

Advance return - issue a refund voucher

 

Inward supply of goods or service where reverse charge or purchase from un registered dealer-self invoice

 

Payment to above parties-payment vouchers

 

Continues supply of goods where successive statements of accounts or successive payments are involved- due date or before receipt of payment, completion of event.

 

Where the goods (being sent or taken on approval for sale or return) are removed before the supply takes place- before or at the time of supply or six months from the date of removal, whichever is earlier.

 

Credit or debit notes

 

Issue a tax invoice showing the description, quantity and value of goods, the tax charged thereon and such other particulars as may be prescribed:

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With Regards,
Kondapaneni Mallikarjuna

Eswaraiah & Co

Chartered Accountants