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Basic forms of GST invoices

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Well, Basic forms of GST invoices tell us about the types of GST invoices that a GST-registered can issue to the buyer. The provision of goods and services is documented by a GST invoice, which is an important document. An invoice is also required to claim the appropriate input tax credit. 

Forms of GST Invoices

  • GST Tax Invoice 

It’s the most prevalent type of Invoice. The supplier must write or print “Tax Invoice” at the top of the invoice. Every GST registered person should be required to issue it for the provision of taxable goods and services. Applicable to both B2B and B2C transactions. must be granted when performing both inter-state and intra-state stock transfers.

  • Bill of Supply

It will be issued if the transaction is not completed. Those dealing with the composite scheme must use the keyword “Bill of Supply” at the top of the invoice, or COMPOSITE DEALER.

  • Invoice & Bill of Supply

It is granted when a GST-registered person provides both taxable and exempted goods/services to an unregistered person or both.

  • Supplementary Tax Invoice

It can be issued by a taxable person if there is a discrepancy in the previously issued tax invoice. It might take the form of a Debit or Credit Note.

  • Debit Note: If, on the other hand, a tax invoice has already been issued for a supply and it is later discovered that the value or tax charged in that invoice is less than what it should be, the supplier can send a Debit Note to the purchaser.
  • Credit Note: If a tax invoice has already been issued for a supply and it is later discovered that the amount of tax charged in the invoice is more than it should be, or the buyer has returned the items, the supplier might provide a credit note to the buyer.

Ingredients of the GST Invoice

I believe that there is no prescribed format for GST invoice. However, according to invoicing standards, the following fields must be provided where appropriate.

  • The name, address and GSTIN of supplier.
  • A unique serial number assigned to each invoice in a single or many series.
  • The serials can be alphabets, numbers, special characters like #, /, and -, or a mix of all three.
  • Most importantly, each financial year’s serial number should be unique.
  • The invoice is issued on this date.
  • The recipient’s or purchaser’s name, address, and GSTIN or UIN.
  • If the purchaser/recipient is an unregistered person and the invoice amount exceeds Rs. 50,000, the recipient’s name and delivery address, as well as the state name and code, should be included.
  • For products, use the HSN Code, and for services, use the accounting code.
  • The items or services being sold are described in detail.
  • The number of products sold, as well as the unit of measurement or unique quantity code.
  • The total value of the products or services supplied.
  • Taxable After discount or abatment, the value of a supply of goods or services.
  • The amount of tax levied is divided into four categories: central tax, state tax, integrated tax, union territory tax, and cess.
  • If the transaction is interstate, include the location of supply as well as the state name.
  • If the delivery address is different from the site of supply, it must be specified.
  • If tax is payable on a reverse charge basis, this information is provided.
  • The supplier’s signature or digital signature, or the signature of the supplier’s authorized agent.

Ingredients of the Bill of Supply

  • Name and address of the supplier’s GSTIN A series of numbers that are repeated in one or more users.
  • The bill of supply is issued on this day.
  • The recipient/name, purchaser’s address, and GSTIn or UIN.
  • For commodities, use the HSN Code, and for services, use the accouting code.
  • An item’s or service’s description.
  • After taking into account any discounts or abatements, the value of the supply or services is calculated.
  • The supplier’s or the supplier’s authorized representative’s digital signature.

Final Words

I hope, I gave you some insights about forms of GST invoice and startup and delivered it in the best possible way. 

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Rajat Negi

Compound Investor (Who loves to talk to stock)
Digital Marketer (Who loves to make brands)

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