Invoicing Under GST
Key Points
- What is Form GSTR-3B?
- Who needs to file Form GSTR-3B?
- Where can I file Form GSTR-3B?
- By when do I need to file Form GSTR-3B?
GST INVOICING
What is a GST invoice?
An invoice or a GST bill is a list of goods sent or services provided, along with the amount due for payment.
Who should issue GST Invoice?
If you are a GST registered business, you need to provide GST compliant invoices for sale of good and/or services. Also, you should receive GST invoices from your vendors to claim the Input Tax credit (ITC).
What are the mandatory fields a GST Invoice should have?
A tax invoice is generally issued to charge the tax and pass on the ITC. A GST Invoice must have the following mandatory fields-
- Invoice number
- Invoice date
- Customer name
- Shipping and billing address
- Customer and taxpayer’s GSTIN (if registered)
- Place of supply
- HSN code/ SAC code
- Item details i.e. description, quantity (number), unit (meter, kg etc.)
- Total value
- Taxable value and discounts
- GST rate and amount of taxes i.e. CGST/ SGST/ IGST
- Whether GST is payable on reverse charge basis
- Signature of the supplier
If the recipient is not registered AND the value is more than Rs. 50,000 then the invoice should carry:
- Name and address of the recipient
- Address of delivery
- State name and state code
Here is a sample invoice for your reference:
FAQ ON GST INVOICING REGISTRATION
A GST invoice is a document issued by a supplier to a recipient detailing the goods or services supplied, along with applicable GST.
A GST invoice must include supplier details (name, address, GSTIN), invoice number, date, recipient details, HSN/SAC codes, description of goods/services, quantity, value, applicable GST rates, and total amount.
For goods, before or at the time of supply. For services, within 30 days of supply.
For transactions below ₹200, a consolidated invoice can be issued.
A revised invoice is issued if GST registration is obtained after issuing a pre-GST invoice.
Penalties can go up to ₹25,000 for non-compliance or incorrect GST invoicing.
Yes, GST invoices can be generated using accounting software or the GST portal.
