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Invoicing Under Goods and Services Tax

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To issue invoice for supply of Goods/Service by taxable persons is another interested and important task. Here you understand how:-

 Name of the invoices:-

TAX INVOICE:    FOR TAXABLE SUPPLY OF GOODS/ SERVICE

BILL OF SUPPLY:  FOR NON-TAXABLE SUPPLY OF GOODS/SERVICES

When to issue?

 

Issue of Invoices, possibilitiesSupply Of GoodsSupply Of Services
After receiving of paymentYes, PossibleYes, Possible
Before receiving of  PaymentYes, PossibleYes, Possible
Before Supply of Goods/ServicesNot  PossibleYes, Possible
After Supply of Goods/ServicesNot  PossibleYes, Possible

 

Reasons:-

  1. In case of supply of Goods -“A taxable person need to issue invoice mandatorily at the time of supply of Goods

 

  1. In Case of supply of services – “A taxable person need to issue invoice mandatorily within the prescribed time”.  

 

What to include in invoice?

Apart from other things like GST registration no/Date/address etc, following are mandatory

PARTICULARSSupply Of GoodsSupply Of Services
Description YesYes
QuantityYesNA
VALUEYesYes
Tax thereonYesYes

 

AMOUNT OF TAX TO SHOW

 

Amount of tax to be indicated in tax invoice and other documents

SECTION 23 A.

 

AMOUNT OF TAX SHALL prominently indicate in all documents relating to:-

  • assessment,
  • tax invoice and
  • other like documents,

 

the amount of tax which will form part of the price at which such supply is made.

 

COMMENT:-  AS PER THIS PROVISIONS,  IT IS NOT POSSIBLE FOR SUPPLIERS TO MARK-

“Inclusive Of Taxes” IN TAX INVOICES

NOTE:- IN PROVISION IT IS CLEARLY STATED THAT IT IS TO MENTION ON TAX INVOICE AND OTHER DOCUMENTS.  However nothing mentioned about the- BILL OF SUPPLY.

A clarification may require-  Meaning of Other Like documents

 Or

 Is Bill of supply other like documents?

Although as per our understanding Bill of Supply should not be part for section 23A.

 

 

 

One thought on “Invoicing Under Goods and Services Tax”

  1. Chaman Khadwal says:

    Although Whole country is almost ready to accept Gst.Clerical work is raised many folds. No body is worry or ready to make comment that all gst returns why not filed after two months instead of monthly retuns.
    Thanks
    Chaman Khadwal, Accountant
    B. CoM M.A Economics

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