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:
1)
Tax
Invoice – For supplying the taxable goods / service
2)
Revised
Invoice – For the transactions covering the period beginning with the effective
date of registration till the date of issuance of certificate of registration.
3)
Bill
of Supply : For supply of exempted goods or services or paying tax under
composition scheme
4)
Receipt
voucher: For advance payment
5) Refund
voucher: No supply is made and no tax invoice is issued against the advance
payment.
6)
Invoice: For the transactions covering under Reverse
Charge Mechanism
7)
Payment
Voucher: For making the payment to supplier who is liable to pay tax under
Reverse Charge Mechanism.
8)
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.
9)
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:
1) 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.
2) 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)
Name,
address and GSTIN or UIN, if registered, of the recipient;
(e)
HSN
Code of goods or Accounting Code for services;
(f)
Description
of goods or services or both;
(g)
Value
of supply of goods or services or both taking into account discount or abatement,
if any; and
(h)
Signature
or digital signature of the supplier or his authorized representative:
Note 1 and 2 of above will apply
mutatis mutandis.
3) 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);
(h) amount of tax charged 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;
(j)
whether
the tax is payable on reverse charge basis; and
(k) 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
4) 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.
5) 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
6) 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 un-registered;
(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:
7) 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:
8) 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.
