Create GST invoices using LEDGERS for free. Signup for LEDGERS in less than five minutes to start generating invoices and filing GST returns.
A streamlined GST invoicing solutions can help you easily boost sales, reduce outstanding receivables, get deeper insights into the business and reduce the complexities associated with GST return filing. The LEDGERS GST invoicing suite that is integrated estimates, online payments and GST filing - can completely streamline revenue cycle management for a small or medium sized business
The rollout of GST in 2017 has necessitated changes to the invoice format for millions of businesses. The format for issuing GST invoice and the related rules are laid out in the GST Tax Invoice, Credit and Debit Notes Rules. With LEDGERS, you can automatically be assured that the GST invoice prepared by you conforms to the standards laid out by the GST rules and regulations.
Invoicing is at the core of all revenue cycle management. With LEDGERS you can start with estimates or quotes and easily convert it to an invoice on receiving payment or delivering goods/services. With our integrated estimates and invoicing solution, you will now be able to easily track estimates that are converted and follow-up with customers for open estimates.
Quickly send estimates or invoices through SMS, Email and Whatsapp. Using LEDGERS, create estimates or invoices and share them over SMS, email and Whatsapp. Sending estimates or invoices over SMS or Whatsapp and email can help your increase conversion ratio, reduce outstanding amount and enable faster business.
Integrated UPI Payment gateway to help you receive payments through UPI on estimates and invoices. UPI payment mechanism is the fastest growing payment mode in India and supported by a wide-range of mobile apps like Google Pay, Whatsapp, PhonePe and PayTM.
Under GST rules and regulations, all invoice issued by businesses under GST must contain the following information:
Time of supply for goods or service is when GST becomes payable. Issuance of tax invoice is an important element in determining time of supply. In most scenarios, time of supply of goods or service is the date of issuance of an invoice or receipt of payment, whichever is earlier. If goods or services have been supplied, then invoice must be issued within a period of 30 days. Hence, GST invoice should ideally be issued when payment for goods or services is reasonably assured or if the goods or services have been supplied to the recipient.
It’s very important to note that the supplier becomes liable for remittance of GST to the government on the issuance of tax invoice, even if payment has not been received from the customer. Hence, if payment is not reasonably assured and goods or services have not been delivered, an estimate can be issued by the supplier.
All GST invoices must be prepared in triplicate in case of supply of goods. The original copy should be marked as ORIGINAL FOR RECIPIENT. The duplicate copy should be marked as DUPLICATE FOR TRANSPORTER and the triplicate copy should be marked as TRIPLICATE FOR SUPPLIER. The invoice shall be prepared in duplicate, in the case of the supply of services, in the following manner, namely,- (a) the original copy being marked as ORIGINAL FOR
In case of supply of services, the invoice should be prepared in duplicate. The original copy should be marked as ORIGINAL FOR RECIPIENT and the duplicate copy should be marked as DUPLICATE FOR SUPPLIER.
The serial number of all invoices issued during a tax period should be filed every month in FORM GSTR-1. Also, GSTIN of all recipients registered under GST must be mentioned on GSTR-1 filing for B2B transactions. In case of recipients not registered under GST or B2C transactions, name, address and place of supply should be mentioned for high value transactions. GSTR-1 filing made by the supplier will automatically be auto-populated in the GSTR-2 filing to be submitted by the recipient of goods or service. Hence, GST invoicing plays an important role in input tax credit claims.
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The Government has increased the GST turnover limit and has announced that small businesses with an annual sales turnover of upto Rs.40 lakhs will be exempt from having to obtain GST registration. The same will also be increased to Rs.20 lakhs for special category states.
List of documents required for GST registration. Registration certificate, identity & address proof of promoters and DSC is required for GST registration.
Procedure to create a GST invoice as per the GST Act or download a sample GST invoice as per GST Invoice Rules. Under GST, GSTIN of the supplier is mandatorily required to be mentioned in the tax invoice along with a consecutive serial number that is unique for each financial year.
Procedure and criteria for obtaining GST registration for branches and business verticals within the same state and operating under different states.
The meaning of interstate and intrastate supply under GST with illustrations. In GST, the terms interstate and intrastate have tremendous significance in the determination of IGST, CGST or SGST. Interstate supply attracts IGST, while intrastate supply attracts CGST and SGST.
Meaning and difference between CGST, SGST and IGST. CGST and SGST are applicable on intra-state supplies. IGST is applicable on inter-state supplies.
GST composition scheme helps small businesses with turnover of less than Rs.150 lakhs by simplifying the GST tax return filing procedure and allowing quarterly filing of GST returns.
File GST return online through IndiaFilings with GST Expert Support. You can prepare and file GSTR-1, GSTR-2, GSTR-3 and GSTR-4 return online through IndiaFilings. In addition to filing GST returns, you can also issue GST invoices and record purchases on LEDGERS to automatically file GST returns.