GST Invoice

A GST invoice is a receipt issued on the purchase of taxable goods and services, by a seller registered under GST law to a customer. The GST invoice is issued based on the GST tax rate, by a seller with a valid GSTIN (GST identification number).

Need to speak to an expert?

arrow400,000+

Business
Served

arrow4.3/5

Google
Ratings

arrowEMI

Easy EMI
Options

What is a GST invoice?

A GST invoice is a receipt issued on the purchase of taxable goods and services, by a seller registered under GST law to a customer. The GST invoice is issued based on the GST tax rate, by a seller with a valid GSTIN (GST identification number).

Also, a GST invoice is issued based on the type of registered person who is supplying goods and services. For this reason, there are various types of GST invoice:

1. A tax invoice :

This GST invoice is a regular invoice issued by the seller to the buyer on the purchase of taxable goods or services. This invoice includes the following details:

  • Information about the supplier and the buyer
  • Price of each good sold or service rendered
  • Product name
  • Unit of goods & services sold
  • Description
  • Terms of supply
  • Date of supply
  • Discount

2. Bill of supply :

Bill of Supply is a type of GST invoice issued by a GST registered seller supplying exempted goods or as the composition scheme in GST, as per the CGST Act, 2017

3. Receipt voucher :

Receipt voucher is issued by a supplier on receipt of advance payment on the purchase of goods and services

4. Refund voucher :

As mentioned earlier a receipt voucher is issued by a supplier on advance payment. However, if the supplier cannot provide the goods or services to the buyer, a refund voucher is also issued.

5. Invoice issued for continuous supply :

This type of GST invoice is issued along with account statements or at the time of receiving payments, for a continuous or regular supply of goods or services by suppliers to customers.

6. Invoice issued on termination of supply services :

This is a special type of GST invoice issued when a contract for the supply of services between a supplier and a buyer is terminated. Additionally, an invoice is issued for a period the contract was active as well.

7.Consolidated Tax invoice (CTI) :

A CTI is issued to unregistered recipients under GST, and does not require an invoice. In this case, the value of goods or services supplied is less than Rs 200.

All You Need to Know

What is the GST invoice format?

With respect to the format, the India GST Act follows the rules under the act specify the mandatory requirement of the following fields:

  • Invoice date.
  • Invoice number.
  • Name of the customer.
  • Billing/Shipping Address of the customer.
  • Description of goods/services sold.
  • Quantity of goods/services sold.
  • Unit price.
  • GSTIN of taxpayer/customer.
  • Location of supply.
  • Harmonised System of Nomenclature (HSN) Code.
  • Taxable value/applicable discount.
  • GST rates and total GST charged including details of applicable CGST/SGST/IGST for the item.
  • Signature of the supplier.

What is the GST tax invoice format for non-registered users?

The GST tax invoice format is different for non-registered users. First and foremost, a GST invoice is not issued for goods and services worth less than Rs. 50,000.

The invoice is issued for goods and services worth more than Rs. 50,000 in which case, then the GST tax invoice format should include:

  • Name of the customer
  • Address of the recipient
  • Address of delivery
  • Name of State
  • State Code

Learn more about GST registration and its online process.

Get me more details

Or

Easy monthly EMI options available
No Spam. No Sharing. 100% Confidentiality.
arrow

Trusted by 400,000 clients and counting, including …

startupindia springboard oyo dept-ip dbs uber ficci ap government