Invoicing Under GST – GST Invoice Guide, Format For Services

  • Blog|GST & Customs|
  • 3 Min Read
  • By Taxmann
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  • Last Updated on 24 December, 2020

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What is GST Invoice?

According to the Tax Laws Lexicon, an Invoice means a list of goods shipped or sent, or services rendered with prices and charges, a bill.

Who can raise a GST Tax Invoice?

A Tax invoice can only be raised by a registered taxable person for every supply of goods or services. Raising tax invoice is compulsory under the CGST Act. Tax invoice under Section 31 of the CGST act includes: a. A document issued by an Input Service Distributor b. Any supplementary invoice c. A Revised invoice A tax invoice shall include any revised invoice issued by the supplier in respect of a supply made earlier.

Mandatory fields of GST Tax Invoice Format:

1. Particulars:  Tax invoice has to contain:

• Name, address and the GSTIN of the Supplier has to mention;

• Serial Number (Not exceeding 16 characters);

• Date of issue of invoice;

• Name, address and the GSTIN or Unique Identification Number, if registered, of the recipient and the address of delivery;

• Name and address of the recipient and the address of delivery, along with the state name and the code of the state, if such recipient is un-registered;

• HSN Code of Goods or Accounting Code of Services;

• Tax invoice should mention description of the goods or services;

• Quantity of goods and unit or Unique Quantity Code should be properly mentioned;

• Value of the goods or services or both supplied should be stated in the invoice;

• Taxable value of goods or services;

• Rate of tax and nature of tax (CGST, SGST, IGST or UTGST);

• Amount of tax charged has to be mentioned;

• Place of supply along with the name & code of the state;

• Whether tax is payable on reverse charge basis, has to be mentioned;

• Signature of Digital Signature of the supplier or his representative.

2. The tax charged on the goods or services or both and other particulars should be very specific and crystal clear.

 

3. The Government vide Notification No. 12/2017 – CGST and 5/2017 – IGST dated 28th June 2017, has specified the number of digits of HSN code to be specified on a tax invoice.

 

Sr. No.

Particulars

Code

        1.

Turnover of up to Rupees One Crore Fifty Lakhs

0

        2.

Turnover of more than Rupees One Crore Fifty Lakhs and upto Rupees Five Crores

2

        3.

Turnover of more than Rupees Five Crores

4

4.

In case of exports / imports

8

 

It is mandatory to indicate the tax charged under GST regime unlike the current system of taxation wherein invoices inclusive of tax could be raised.

Export Invoice Format in GST:

In case of exports of goods and services, the invoice shall mandatorily carry an endorsement “SUPPLY MEANT FOR EXPORT OR SUPPLY TO SEZ UNIT OR SEZ DEVELOPER FOR AUTHORISED OPERATIONS ON PAYMENT OF INTEGRATED TAX” or “SUPPLY MEANT FOR EXPORT OR SUPPLY TO SEZ UNIT OR SEZ DEVELOPER FOR AUTHORISED OPERATIONS UNDER BOND OR LETTER OF UNDERTAKING WITHOUT PAYMENT OF INTEGRATED TAX.” It shall also contain the following details: a. Name and address of the recipient b. Address of delivery c. Name of the country of destination

Time Limit for Issuing Tax Invoice:

For every registered person

Supply of Goods

Supply of Services

 

Closing of each day

30 days from the date of supply

For services by Insurer company, banking companies & financial institutions including NBFCs

 

45 days from the date of supply of services.

For services between distinct persons by Insurer company, banking companies & financial institutions including NBFCs, including Non-Banking Financial Companies, Telecom Operators or any other class that may be notified by the Govt.

         a.Before or at the time such supplier records the same in his books of account

 

OR

 

        b. Before the expiry of the quarter during which the supply was made.

 

Disclaimer: The content/information published on the website is only for general information of the user and shall not be construed as legal advice. While the Taxmann has exercised reasonable efforts to ensure the veracity of information/content published, Taxmann shall be under no liability in any manner whatsoever for incorrect information, if any.

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