As a GST registered dealer, you are required to provide GST Invoices, also known as GST bill to your clients.
Here, we will be covering the following aspects of GST Invoices:
An invoice or a GST bill is a list of goods sent or services provided, along with the amount due for payment.
If you are a GST registered business, you need to provide GST-complaint invoices to your clients for sale of good and/or services.
Your GST registered vendors will provide GST-compliant purchase invoices to you.
A tax invoice is generally issued to charge the tax and pass on the input tax credit. A GST Invoice must have the following mandatory fields-
**If the recipient is not registered AND the value is more than Rs. 50,000 then the invoice should carry:
The GST Act has defined time limit to issue GST tax invoice, revised GST bill, debit note, and credit note. Following are the due dates for issuing an invoice to customers:
A bill of supply is similar to a GST invoice except for that bill of supply does not contain any tax amount as the seller cannot charge GST to the buyer.
A bill of supply is issued in cases where tax cannot be charged:
If the value of multiple invoices is less than Rs. 200 and the buyer are unregistered, the seller can issue an aggregate or bulk invoice for the multiple invoices on a daily basis.
For example, you may have issued 3 invoices in a day of Rs.80, Rs.90 and Rs. 120. In such a case, you can issue a single invoice, totalling Rs.290, to be called an aggregate invoice.
A taxpayer liable to pay tax under Reverse Charge Mechanism (RCM) has to issue an invoice for goods or services or both received by him. The receiver shall mention the fact that the tax is paid under RCM. In addition, they have to issue a payment voucher while making payment to the supplier.
A credit note is issued by the seller when the value of invoice decreases:
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