Bill / Invoice

Invoicing forms a crucial function when it comes to the purpose of execution of a transaction. On every outward / inward supply, an invoice is issued by the supplier i.e. the person who is making the sale. is to be derogatorily issued if the value of supply is more than Rs.200/- and is the basis for a charge of tax.
In the GST regime, two types of invoices are to be issued:

  1. Tax invoice
  2. Bill of supply

When a registered taxable person supplies taxable goods or services, a GST invoice is to be issued. 

Particulars

  • Name, Address & of supplier
  • Consecutive Serial Number
  • Date of issue
  • Name, Address of recipient
  • (as per  on turnover basis)
  • Description of Goods, Quantity &
  • (and Address of Delivery if it is different from Place Of Supply)
  • Signature

Tax invoice is generally issued to charge the tax and pass on the credit. In GST there are some instances where the supplier is not allowed to charge any tax and hence a Tax invoice can’t be issued instead another document called Bill of Supply is issued.

Cases where a registered supplier needs to issue bill of supply:

  • Supply of exempted goods or services
  • Supplier is paying tax under composition scheme

Particulars

  • Name, Address & of supplier
  • Consecutive Serial Number
  • Date of issue
  • Name, Address & GSTIN (if registered) of recipient
  • Description of Goods, Quantity & Value
  • Signature or Digital Signature


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