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As a GST registered dealer, you are required to provide GST Invoices, also known as GST bill to your clients.
Here, we will be covering the following aspects of GST Invoices:
An invoice or a GST 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 BillBook Software
If you are a GST registered business, you need to provide GST-complaint invoices to your clients for sale of good and/or services.
Your GST registered vendors will provide GST-compliant purchase invoices to you
A tax invoice is generally issued to charge the tax and pass on the input tax credit. A GST Invoice must have the following mandatory fields-
**If the recipient is not registered AND the value is more than Rs. 50,000 then the invoice should carry:
Here is a sample invoice for your reference:
The GST Act has defined time limit to issue GST tax invoice, revised GST bill, debit note, and credit note. Following are the due dates for issuing an invoice to customers:
You can personalize your invoice with your company’s logo. The ClearTax BillBook allows you to create and personalize GST Invoice free of cost.
A bill of supply is similar to a GST invoice except for that bill of supply does not contain any tax amount as the seller cannot charge GST to the buyer.
A bill of supply is issued in cases where tax cannot be charged:
As per Notification No. 45/2017 – Central Tax dated 13th October 2017 If a registered person is supplying taxable as well as exempted goods/ services to an unregistered person, then he can issue a single “invoice-cum-bill of supply” for all such supplies.
If the value of multiple invoices is less than Rs. 200 and the buyer are unregistered, the seller can issue an aggregate or bulk invoice for the multiple invoices on a daily basis.
For example, you may have issued 3 invoices in a day of Rs.80, Rs.90 and Rs. 120. In such a case, you can issue a single invoice, totalling Rs.290, to be called an aggregate invoice.
A taxpayer liable to pay tax under Reverse Charge Mechanism (RCM) has to issue an invoice for goods or services or both received by him. The receiver shall mention the fact that the tax is paid under RCM. In addition, they have to issue a payment voucher while making payment to the supplier.
A debit note is issued by the seller when the amount payable by the buyer to seller increases:
A credit note is issued by the seller when the value of invoice decreases:
Yes. You can revise invoices issued before GST. Under the GST regime, all the dealers must apply for provisional registration before getting the permanent registration certificate.
Refer to this image below to understand the protocol of issuing a revised invoice:
This applies to all the invoices issued between the date of implementation of GST and the date your registration certificate has been issued.
As a dealer, you must issue a revised invoice against the invoices already issued. The revised invoice has to be issued within 1 month from the date of issue of the registration certificate.
In some cases, like banking, passenger transport, etc., the government has provided relaxation on the invoice format issued by the supplier.
Invoice date refers to the date when the invoice is created on the bill-book, while the due date is when the payment is due on the invoice.
In case of GST payable under reverse charge, you must additionally mention that tax is paid on a reverse charge, on the GST invoice.
Yes, the invoice serial number must be maintained strictly. You may change the format by providing a written intimating the GST department officer along with reasons for the same.
Yes, you can digitally sign invoice through DSC.
Here is a video on how to generate GST compliant Invoices using ClearTax GST software:
Also check E-Invoicing under the New GST Return System