GST

1. As per section 31 of CGST Act and Rule 46 of the CGST rules every registered person shall issue a Tax invoice on sale of taxable goods and services to customer(registered or unregistered both)
2. No specific format of Invoice has been prescribed under Act/Rules but prescribed to be shown in invoice the details to be shown in the Invoice.
3. The particulars of the Invoice is given in Rule 46 of the CGST rules,most of the particulars are also required in earlier laws VAT/Excise also.However few addition points required in GST invoice is discussed as under.
   • No specific proforma, only particulars has been prescribed.
   • Invoice should be for supply to Registered persons (B2B).
   • Daily Consolidated invoice : less than Rs.200 to unregistered dealer (B2C).
   • 3 Copies of invoice for supply of goods.
   • 2 copies of invoice for supply of services.
   • Bill of supply should be issued for supply of exempted goods.
   • No HSN Code if turnover up to 1.5 cr.
   • 2 digits HSN code for turnover more than 1.5 cr to 5 cr.
   • 4 digits HSN code for turnover more than 5 cr.
   • Self invoice for supply covered under Reverse Charge Mechanism(RCM).
   • Monthly bill if supply by unregistered dealer to registered dealer under RCM.
   • Invoice Numbers : maximum 16 digits. Multiple series allowed.

4. In case of Inter state sale you have to show "place of supply " also and state code of place of supply.Please note that First two digit of GSTIN is also state code.

5. Whether reverse charge is applicable you have to show.

6. Invoice may have maximum 16 digit serial number ,but number must be unique for a financial year , however you can use multiple series of books

7. If material is sold to unregistered dealer then address of customer is required to shown in the invoice ,if value of supply is more than Rs 50,000

8. Invoice is required to be issued in in case of

• Goods : Three copies ,
  1. the original copy being marked as ORIGINAL FOR RECIPIENT;
  2. the duplicate copy being marked as DUPLICATE FOR TRANSPORTER; and
  3. the triplicate copy being marked as TRIPLICATE FOR SUPPLIER.
• For services : two copies
  1. the original copy being marked as ORIGINAL FOR RECIPIENT; and
  2. the duplicate copy being marked as DUPLICATE FOR SUPPLIER.

9. If unregistered recipient has not demanded the bill up to Rs 200 then consolidated bill at the end of day is required to be issued.

10. For Goods and services ,covered under reverse charge under section 9(4) of CGST act ,ie supply of goods and or services by unregistered person to registered person : A consolidated monthly invoice can be issued after consider a exemption of Rs 5000 per day.

11. For Exempted supply ,Bill of supply is required to be issue by the registered dealer. Further Composite dealer shall also issue Bill of Supply Particulars of Bill of supply has been prescribed under (Rule 49).

12. For receipt of Advance Payment for taxable good/supply,Receipt voucher is required to be issued (Rule :50)

13. For refund of Advance Payment received for taxable goods/supply ,Refund voucher is required to be issued (Rule :51)

14. For payment on under reverse charge to supplier a payment voucher is to be issued (Rule :52)

15. For change in prices /returns of goods Debit Note/Credit Note /revised invoice is to be issued as per (Rule :53)

16. Special Rules of Invoice is applicable in case of ISD and other cases specified under ( Rule :54)

17. In special case Material can be supplied without invoice as per (Rule :55)