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What is a GST Invoice?

GST invoice can be defined as a bill which lists services and goods in addition to the amount of money that needs to be paid. A GST invoice format in Excel is easy to generate. 

Who issues the GST Invoice?

GST invoice is issued by businesses that are GST registered. GST invoice format has to be maintained while sending GST complaint bills to the clients. Vendors that are registered with GST would provide purchase bills in the GST invoice format.

What is mandatory for a GST invoice to have?

There is a certain GST invoice format that has to be maintained mandatorily in every GST invoice. A GST bill format includes the customer’s name, the invoice date and number, the address of the customer, the GSTIN of the customer, the place where the product is to be supplied, the SAC/HSN code, discounts, amount and rates of tax, description of the item in terms of quantities, units and complete value. A GST bill format should also have the supplier’s signature on it. However, if the customer has not registered to GSTIN and the amount of the product exceeds Rs. 50,000, the GST bill format should then carry the recipient’s name, address, delivery dress, as well as the name of the state and its code.

What are GST invoice rules?

There is a particular and definite limitation on time that is to be followed while issuing a GST invoice, as per the GST invoice rules. Here are the GST invoice rules as far as the time limit is concerned:

i. In any normal case of goods, invoicing under GST should be issued on or before the delivery date.

ii. In cases of continuous supply of goods, invoicing under GST has to be issued on or before the day when the account statement is issued.

iii. In case of any general case of services, invoicing under GST should be issued within 30 days of the supply being made.

iv. In cases of services associated with banks or NBFCs, invoicing under GST has to be issued within 45 days of the supply being made.

How should a GST Invoice be personalized?

Any GST invoice format in Excel can be personalized by using the logos of the respective companies.

What other kinds of invoices are there?

1.Bill of supply

It is quite similar to what the GST bill format is. The only difference is that a bill of supply would never include any amount of tax since the seller would not be able to charge GST. It can be issued under the following circumstances:

  • When a registered person sells goods and/or services
  • When a registered person opts for a scheme composition

2. Aggregate invoice

The seller is allowed to issue an aggregate invoice or a bulk invoice in case of the buyer being unregistered, and the total value of several invoices is not more than a total of two hundred rupees. In such a case, an aggregate invoice can be issued for multiple days.

For example, if there are three different invoices of Rs. 80, Rs. 90 and Rs. 100 each, then the entire amount can be counted together and one invoice of a total of Rs. 270 can be issued.

3. Debit note and credit note

A debit note has to be issued to the buyer by the seller in case the total amount of the invoice increases.

A credit note has to be issued by the seller to the buyer in case the total amount of the invoice decreases.

Can invoices be revised?

Yes, invoices that are issued for GST can be revised. Every dealer that is registered to GST needs to apply for a provisional registration prior to obtaining a certificate for permanent registration.

How many invoice copies are to be issued?

  • Three copies of the invoice must be issued in case of goods
  • Two copies of the invoice must be issued in case of services.

Invoicing under GST for Special Cases

There are cases such as banking and passenger transportation, where there are certain relaxations provided by the government for the GST invoice format. 

Make sure you generate your GST invoice format in Excel keeping in mind the rules mentioned, to ensure smooth functioning of your business operations.

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FAQs on Invoicing under GST

  • ✔️What is the invoice date and what is the due date?

    Invoice date is the date on which the invoice is generated, and due date is the date on which the payment has to be made. 

  • ✔️Is it compulsory for a serial number to be maintained for invoices?

    Yes, the invoice serial number is an important aspect and has to be compulsorily maintained. It can only be changed with permission from a GST officer. To obtain permission, reasons are required to be stated. 

  • ✔️Can an invoice be signed digitally using DSC?

    Yes, an invoice can be signed digitally using DSC. 

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