FAQs Regarding Invoicing
A GST Invoice must include the following:
(1) GSTIN, name, and address of the supplier issuing a GST invoice.
(2) Date of issuance.
(3) A unique serial number not exceeding 16 digits.
(4) In the case of registered recipients, this bill should also include the name, GSTIN, and address of the receiving party as well.
(5) A complete description of all services or goods provided, complete with HSN code.
(6) Amount of discount applicable on these taxes, if any.
(7) Tax amount.
(8) Invoice valuation.
(9) The rate at which CGST, SGST, and IGST are charged should be mentioned on this bill.
(10) The billing address and information.
(11) Shipping address and information.
(12) Reverse charge or forward charge.
(13) Signature of the tax in7voice issuer or authorized representative.
There is no specific format or template for GST Invoices. The Invoices must contain the details mentioned above.
Yes, a separate invoice is required to be furnished for every individual transaction.
However, in case of continuous supply of goods or services a single invoice at end of each period would suffice.
a registered person may not issue a tax invoice if the value of the goods or services supplied is less than Rs 200. Instead, he shall issue a consolidated tax invoice for such supplies at the close of each day in respect of all such supplies.
Yes, there is no such restriction for issuance of revised tax invoice. The revised invoice is required to be furnished in GSTR-01 as an amendment.
No, if a person is providing exempt supply under GST, then person is required to issue “Bill of Supply” instead of “Tax Invoice”.
In such a case the person is required to issue “Invoice Cum Bill of Supply” [Rule 46A].
E Invoicing is a system in which B2B invoices and a few other documents are authenticated electronically by E-invoice portal for further use on the common GST portal.
Currently, all the business with turnover of 10 Crores or more are liable to make E invoices. However, from 1st August, 2023 all the businesses with turnover of 5 crores or more will be required to issue to invoices.
E-way bill is a document that a person in charge of the conveyance/vehicle has to carry if the value of goods he is carrying is more than Rs. 50,000. In certain circumstances, the end consumer may also have to generate an e-way bill.
An E-Way bill is generated in Form GST EWB-01.
Where the recipient consumer is unregistered and goods whose value exceeds Rs. 50,000 is transported by a consumer’s own vehicle. If the person transporting the goods is unregistered person, then he can either request the supplier to generate an e-way bill or he can generate it himself by logging into the e-way bill portal for citizens.
An E-Way Bill is required to be generated when consignment value exceeds 50,000/-and supply involves movement of goods:
(1) In relation to supply.
(2) For reasons other than supply.
(3) Due to inward supplies from unregistered person.
The responsibility of generating E-way bill under various methods of transport are as under: –
(1) Using an owned vehicle.
(2) Using a hired vehicle.
(3) Using services of a GTA.
Yes, there are certain circumstances where the E-way bill generated earlier needs rectification, change or update in terms of change in vehicle number, etc. The transporter shall update the vehicle number of the new vehicle or the new mode of transport.
In case the transportation of goods is cancelled or goods are not being transported as per details of E-Way Bill. Only the person who has generated an E-Way Bill has an option to cancel E-Way Bill within 24 hours.
It is to be noted that an E-Way Bill cannot be cancelled after cancellation of 24 hours.
The E-way bill is to be generated by the registered person being the supplier or the recipient, either before or after the commencement of movement of goods
In case of multiple consignments, a consolidated E Way bill can be generated in Form GST EWB-02 indicating serial number of E-Way Bill of each consignment.
Up to 100 Km.
One day in cases other than over dimensional cargo.
For every 100 km or part thereof thereafter.
One additional day in cases other than Over Dimensional Cargo.
Up to 20 km.
One day in case of Over Dimensional Cargo.
For every 20 km. or part thereof thereafter.
One additional day in case of Over Dimensional Cargo.
Every State has its own rules and limits for generation of e-way bills, hence one will have to check state specific laws for the same.