India's #1 GST Invoicing and Returns Filing Software

Frequently Asked Questions

• What is a GST bill?
  As a GST registered dealer, you are required to provide GST Invoices, also known as bills to your clients. An invoice or a bill is a list of goods sent or services provided, along with the amount due for payment.
  You can create GST compliant invoices FREE of cost using ClearTax Billing Software.
• How to personalize GST Invoices?
  Your invoice can be personlaized with your company’s logo. The ClearTax Billing allows you to create and personalize GST Invoice free of cost.
• What are the mandatory fields a GST Invoice should have?
  A tax invoice is generally issued to charge the tax and pass on the input tax credit. You can easily create it using the ClearTax Billing Software
  A GST Invoice must have the following mandatory fields:

  1. Invoice number and date
  2. Customer name
  3. Shipping and billing address
  4. Customer and taxpayer’s GSTIN (if registered)**
  5. Place of supply
  6. HSN code/ SAC code
  7. Item details i.e. description, quantity (number), unit (meter, kg etc.), total value
  8. Taxable value and discounts
  9. Rate and amount of taxes i.e. CGST/ SGST/ IGST
  10. Whether GST is payable on reverse charge basis
  11. 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
• Why Inventory Management?
  Inventory Management involves activities which allow an entity to have a better control over various inventory items from the time goods are received to the point of sale.This is more critical for the manufacturers or retailers dealing with perishable stock which has a short expiry period. Some of the important benefits to an entity from a good inventory management include No Stock out, avoidance of overstocking of goods, cost saving, minimum working capital needed etc. To know more and simplify your inventory managemnt, check out the ClearTax Billing Software.
• How can ClearTax Billing Software help in Inventory disclosures in Financial Statements?
  For companies having various categories of inventories, it is suggested that the inventories are reported separately category-wise for better disclosure purpose and analysis. Where the inventories represent a substantial part of entities asset structure, this kind of disclosure give better investor perspective than reporting as a single line. ClearTax Billing Software helps for a simplified reporting process.
• Why is it important to keep a record of Accounts receivables/Accounts payables?
  It is established that the record keeping of the accounts receivable/accounts payable in the books is significantly important to avoid default on the payments/receipts. It is a strenuous task to maintain an accurate account of the receivables/payables due. Try ClearTax Billing Software to maintain your Accounts receivables and Account Payables.