Sunday, 2 July 2017

New GST Invvoice Format. How to calculate tax in New GST format. Download New GST Invoice Format

Elements to be Included in  GST Invoice Bill Format

  1. Invoice number and date
  2. Customer name
  3. Shipping and billing address
  4. Customer and taxpayer’s GSTIN
  5. Place of supply
  6. HSN code
  7. Taxable value and discounts
  8. Rate and amount of taxes i.e. CGST/ SGST/ IGST
  9. Item details i.e. description, unit price, quantity

GST Tax Invoice Format Rules:

Subject to rule 5, a tax invoice referred to in section 23 shall be issued by the supplier containing the following details:-
  1. name, address and GSTIN of the supplier;
  2. a consecutive serial number containing only alphabets and/or numerals, unique for a financial year;
  3. date of its issue;
  4. name, address and GSTIN/ Unique ID Number, if registered, of the recipient;
  5. name and address of the recipient and the address of delivery, along with the name of State and its code, if such recipient is unregistered and where the taxable value of supply is fifty thousand rupees or more;
  6. HSN code of goods or Accounting Code of services;
  7. description of goods or services;
  8. quantity in case of goods and unit or Unique Quantity Code thereof;
  9. total value of goods or services;
  10. taxable value of goods or services taking into account discount or abatement, if any;
  11. rate of tax (CGST, SGST or IGST)
  12. amount of tax charged in respect of taxable goods or services (CGST, SGST or IGST);
  13. place of supply along with the name of State, in case of a supply in the course of inter-State trade or commerce;
  14. place of delivery where the same is different from the place of supply;
  15. whether the tax is payable on reverse charge;
  16. the word “Revised Invoice” or “Supplementary Invoice”, as the case may be, indicated prominently, where applicable along with the date and invoice number of the original invoice; and
  17. signature or digital signature of the supplier or his authorized representative.

GST Invoice Bill Format in case of Exports

Provided further that in case of exports, the invoice shall carry an endorsement “SUPPLY MEANT FOR EXPORT ON PAYMENT OF IGST” or “SUPPLY MEANT FOR EXPORT UNDER BOND WITHOUT PAYMENT OF IGST”, as the case may be, and shall, in lieu of the details specified in clause (e), contain the following details:
  1. name and address of the recipient;
  2. address of delivery;
  3. name of the country of destination; and
  4. number and date of application for removal of goods for export [ARE-1].
The GST Invoice Bill Format referred to in sub-rule (1), in case of taxable supply of services, shall be issued within a period of thirty days from the date of supply of service:
Provided that in case of continuous supply of services, the invoice shall be issued within a period of thirty days from the date when each event specified in the contract, which requires the recipient to make any payment to the supplier of services, is completed:
Provided further that where the supplier of service is a banking company or a financial institution including a non-banking financial company, the period within which the gst invoice is to be issued shall be forty five days from the date of supply of service.

DOWNLOAD THE SAMPLE FORMAT OF NEW GST TAX INVOICE