Invoice, Billing and other documents under GST

We have received many queries from the clients with regards to various provisions of the GST and we are resolving the same to their satisfaction on one to one basis.

 

During this process, we have come through many general queries and one of that is in relation to invoice, billing and other documents to be issued by the supplier.

 

The invoice is very crucial issue in the regime of GST and therefore, we are presenting an article for the same.

 

The myth that’s prevalent is that the invoice and the other documents are to be issued in one standard format only. However, it is not like that. The council has only specified the matters which are mandatorily to be incorporated in the invoice.

 

In general, the following documents are to be issued by the supplier:

 

  • Tax Invoice – For supplying the taxable goods / service
  • Revised Invoice – For the transactions covering the period beginning with the effective date of registration till the date of issuance of certificate of registration.
  • Bill of Supply : For supply of exempted goods or services or paying tax under composition scheme
  • Receipt voucher: For advance payment
  • Refund voucher: No supply is made and no tax invoice is issued against the advance payment.
  • Invoice: For the transactions covering under Reverse Charge Mechanism
  • Payment Voucher: For making the payment to supplier who is liable to pay tax under Reverse Charge Mechanism.
  • Credit note: Taxable Value or Tax charged is in excess of what it should be, goods are returned, goods / services supplied are found to be deficient.
  • Debit note: Taxable value or Tax charged is less than what it should be.

 

The details to be mentioned in respect of above are produced as below:

 

  • For Tax Invoice:

A tax invoice shall be issued by the registered person containing the following particulars:

(a) Name, address and GSTIN of the supplier;

(b) a consecutive serial number not exceeding sixteen characters, in one or multiple series, containing alphabets or numerals or special characters hyphen or dash and slash symbolized as “-” and “/” respectively, and any combination thereof, unique for a financial year;

(c) Date of its issue;

(d) Name, address and GSTIN or UIN, if registered, of the recipient;

(e) Name and address of the recipient and the address of delivery, along with the name of State and its code, if such recipient is un-registered and where the value of taxable supply is fifty thousand rupees or more; (Note 1)

(f) HSN code of goods or Accounting Code of services; (Note 2)

(g) Description of goods or services;

(h) Quantity in case of goods and unit or Unique Quantity Code thereof;

(i) Total value of supply of goods or services or both;

(j) Taxable value of supply of goods or services or both taking into account discount or abatement, if any;

(k) Rate of tax (central tax, State tax, integrated tax, Union territory tax or cess);

(l) Amount of tax charged in respect of taxable goods or services (central tax, State tax, integrated tax, Union territory tax or cess);

(m) Place of supply along with the name of State, in case of a supply in the course of inter-State trade or commerce;

(n) Address of delivery where the same is different from the place of supply;

(o) Whether the tax is payable on reverse charge basis; and

(p) Signature or digital signature of the supplier or his authorized representative:

 

Note 1:

In case of export of goods or services, the invoice shall carry an endorsement “SUPPLY MEANT FOR EXPORT ON PAYMENT OF INTEGRATED TAX” or “SUPPLY MEANT FOR EXPORT UNDER BOND OR LETTER OF UNDERTAKING WITHOUT PAYMENT OF INTEGRATED TAX”, as the case may be, and shall, in lieu of the details specified in clause (e), contain the following details:

(i) Name and address of the recipient;

(ii) Address of delivery; and

(iii) Name of the country of destination:

Note 2:

The guidelines for HSN Code are as under:

  • Businesses with turnover of less than Rs 1.5 crores will not be required to use HSN codes for their commodities.
  • Businesses with turnover between Rs 1.5 Crores and Rs 5 Crores shall be required to use two-digit HSN codes for their commodities.
  • Businesses with turnover equal to Rs 5 Crores and above shall be required to use four-digit HSN codes for their commodities.
  • In the case of imports/exports, HSN codes of eight digits shall be compulsory.
  • Small dealers under composition scheme will not be required to mention HSN codes in their invoices.

 

  • For Bill of supply:

 

A bill of supply shall contain the following particulars:

(a) Name, address and GSTIN of the supplier;

(b) a consecutive serial number not exceeding sixteen characters, in one or more multiple series, containing alphabets or numerals or special characters -hyphen or dash and slash symbolised as “-” and “/”respectively, and any combination thereof, unique for a financial year;

(c) Date of its issue

(d) Date of its issue;

(e)Name, address and GSTIN or UIN, if registered, of the recipient;

(f) HSN Code of goods or Accounting Code for services;

(g) Description of goods or services or both;

(h) Value of supply of goods or services or both taking into account discount or abatement, if any; and

(i) Signature or digital signature of the supplier or his authorized representative:

Note 1 and 2 of above will apply mutatis mutandis.

 

  • Receipt Voucher:

 

A receipt voucher shall contain the following particulars:

(a) name, address and GSTIN of the supplier;

(b) a consecutive serial number not exceeding sixteen characters, in one or multiple series, containing alphabets or numerals or special characters -hyphen or dash and slash symbolized as “-” and “/”respectively, and any combination thereof, unique for a financial year

(c) date of its issue;

(d) name, address and GSTIN or UIN, if registered, of the recipient;

(e) description of goods or services;

(f) amount of advance taken;

(g) rate of tax (central tax, State tax, integrated tax, Union territory tax or cess);

(f) amount of tax charged in respect of taxable goods or services (central tax, State tax, integrated tax, Union territory tax or cess);

(g) place of supply along with the name of State and its code, in case of a supply in the course of inter-State trade or commerce;

(h) whether the tax is payable on reverse charge basis; and

(i) signature or digital signature of the supplier or his authorized representative:

Note 3:

Provided that where at the time of receipt of advance,

(i) the rate of tax is not determinable, the tax shall be paid at the rate of eighteen per cent.;

(ii) the nature of supply is not determinable, the same shall be treated as inter-State supply

 

  • Refund Voucher:

 

A refund voucher shall contain the following particulars:

(a) name, address and GSTIN of the supplier;

(b) a consecutive serial number not exceeding sixteen characters, in one or multiple series, containing alphabets or numerals or special characters -hyphen or dash and slash symbolised as “-” and “/”respectively, and any combination thereof, unique for a financial year

(c) date of its issue;

(d) name, address and GSTIN or UIN, if registered, of the recipient;

(e) number and date of receipt voucher issued in accordance with provisions of sub- rule 5;

(f) description of goods or services in respect of which refund is made;

(g) amount of refund made;

(h) rate of tax (central tax, State tax, integrated tax, Union territory tax or cess);

(i) amount of tax paid in respect of such goods or services (central tax, State tax, integrated tax, Union territory tax or cess);

(j) whether the tax is payable on reverse charge basis; and

(k) signature or digital signature of the supplier or his authorized representative.

 

  • Payment Voucher:

 

A payment shall contain the following particulars:

(a) name, address and GSTIN of the supplier if registered;

(b) a consecutive serial number not exceeding sixteen characters, in one or multiple series, containing alphabets or numerals or special characters -hyphen or dash and slash symbolised as “-” and “/”respectively, and any combination thereof, unique for a financial year

(c) date of its issue;

(d) name, address and GSTIN of the recipient;

(e) description of goods or services;

(f) amount paid;

(g) rate of tax (central tax, State tax, integrated tax, Union territory tax or cess);

(h) amount of tax payable in respect of taxable goods or services (central tax, State tax, integrated tax, Union territory tax or cess);

(i) place of supply along with the name of State and its code, in case of a supply in the course of inter-State trade or commerce; and

(j) signature or digital signature of the supplier or his authorized representative

 

  • Revised tax invoice and credit or debit notes

 

A revised tax invoice and credit or debit note shall contain the following particulars –

(a) the word “Revised Invoice”, wherever applicable, indicated prominently;

(b) name, address and GSTIN of the supplier;

(c) nature of the document;

(d) a consecutive serial number not exceeding sixteen characters, in one or multiple series, containing alphabets or numerals or special characters -hyphen or dash and slash symbolised as “-” and “/”respectively,, and any combination thereof, unique for a financial year;

(e) date of issue of the document;

(f) name, address and GSTIN or UIN, if registered, of the recipient;

(g) name and address of the recipient and the address of delivery, along with the name of State and its code, if such recipient is unregistered;

(h) serial number and date of the corresponding tax invoice or, as the case may be, bill of supply;

(i) value of taxable supply of goods or services, rate of tax and the amount of the tax credited or, as the case may be, debited to the recipient; and

(j) signature or digital signature of the supplier or his authorized representative:

 

  • Tax Invoice or Credit Note for Input Service Distributor (ISD)

The tax invoice or the Credit note to be issued by ISD shall contain the following particulars:

(a) name, address and GSTIN of the Input Service Distributor;

(b) a consecutive serial number not exceeding sixteen characters, in one or multiple series, containing alphabets or numerals or special characters hyphen or dash and slash symbolised as , “-”, “/”, respectively, and any combination thereof, unique for a financial year;

(c) date of its issue;

(d) name, address and GSTIN of the recipient to whom the credit is distributed;

(e) amount of the credit distributed; and

(f) signature or digital signature of the Input Service Distributor or his authorized representative:

 

  • Transportation of goods without issue of invoice:

For the below mentioned purposes, the consigner may issue a delivery challan, serially numbered not exceeding sixteen characters, in one or multiple series, in lieu of invoice at the time of removal of goods for transportation.

(a) supply of liquid gas where the quantity at the time of removal from the place of business of the supplier is not known,

(b) transportation of goods for job work,

(c) Transportation of goods for reasons other than by way of supply,

The following details are required to be mentioned in the delivery challan:

(i) date and number of the delivery challan,

(ii) name, address and GSTIN of the consigner, if registered,

(iii) name, address and GSTIN or UIN of the consignee, if registered,

(iv) HSN code and description of goods,

(v) quantity (provisional, where the exact quantity being supplied is not known),

(vi) taxable value,

(vii) tax rate and tax amount – central tax, State tax, integrated tax, Union territory tax or cess, where the transportation is for supply to the consignee,

(viii) place of supply, in case of inter-State movement, and

(ix) signature.

 

GST Rates:

  1. GST Rates for Goods

(a) Chapter Wise GST Rates as decided in the meeting of Council dated 18.05.2017

(b) GST Compensation Rates ad decided in the meeting of Council dated 18.05.2017

(c) Addendum to the GST Rates for Goods

2. GST Rates for Services

(a) GST Rates for Services

(b) List of Services under Reverse Charge Mechanism

P Chhajed & Co LLP, a renowned and Top Chartered Accountant Firm in Ahmedabad, is a Limited Liability Partnership Form of organization, a highest form of organization a Chartered Accountancy Firm is permitted to form.

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