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IndiaFilings GST Invoicing and Returns Filing Software

Learn how to create invoice as per GST invoice rules

Streamlined GST invoicing solutions help boost sales, reduce the outstanding receivables, get deeper insights into the business, and reduce the complexities associated with GST return filing.

Billing software with GST and all invoice features inbuilt with estimates, online statements and payments, receivables management, eWay bill portal, and GST filing can completely revolutionize the revenue management for small and medium-sized businesses.

The rollout of GST in 2017 has necessitated changes to the invoice format for millions of businesses. The format for issuing the GST invoices and the related rules are laid out in the GST Tax Invoice, Credit, and Debit notes rules.

Ledgers automatically issue GST invoice that conforms to the prescribed standards by the GST rules and regulations.

Checklist for GST Tax Invoice Requirements

The GST rules and regulations, all invoices issued by any businesses under the GST should contain the following information:

  • 1

    Name, address, and GSTIN of the supplier

  • 2

    A consecutive serial number that does not exceed sixteen characters in one multiple series contains alphabets or numerals or special characters hyphen or dash( - or / ) respectively and any combination thereof, unique for a financial year.

  • 3

    Issuing Date of the serial number

  • 4

    Name, address, and GSTIN or UIN, if registered, of the recipient.

  • 5

    Name and address of the recipient and the address of delivery, along with the state's name and code, if the recipient is unregistered and where taxable value is fifty thousand or more.

  • 6

    HSN code of goods or Accounting Code of services

  • 7

    Description of the goods or services

  • 8

    Quantity in case of goods and unit or unique quantity code thereof

  • 9

    The total value of the supply of goods or services or both

  • 10

    The taxable value of supply of goods or services or both taking into consideration the discount or reduction, if any

  • 11

    Rate of tax (central tax, state tax, integrated tax, Union territory tax or cess)

  • 12

    Amount of tax charged concerning the taxable goods or services (central tax, state tax, integrated tax, Union territory tax, or cess)

  • 13

    Place of supply along with the name of the state, in case of a supply in the course of interstate trade or commerce

  • 14

    Address of delivery which is different from the place of supply

  • 15

    Whether the tax is payable on a reverse charge basis and

  • 16

    The signature or digital signature of the supplier or his/her authorized representative.

When should Invoice be issued under GST?

The GST invoice is issued when the payment of goods or services of received or reasonably assured or if the goods or services have been supplied.

Suppose the goods and services are supplied and payment is not received, then an invoice must be issued within 30 days- irrespective of the receivable's status.

It should be noted that the supplier becomes liable for remittance of GST to the government on the issuance of tax invoices, even if the payment is not received from the customer.

Hence, if the payment is not reasonably assured and the goods or services have not been delivered, the supplier can issue an estimate.

How do you charge GST on an Invoice?

Pay as you go grow pricing

All Inclusive Pricing - No Hidden Fee

Basic

Free
  • Unlimited Users
  • Upto 500 Estimates
  • Upto 500 Invoices
  • Upto 500 Purchase Invoices
  • Upto 500 Purchase Orders
  • GSTR-3B Return Filing
  • GSTR-1 Return Filing
  • Import or Export to Excel
  • Phone, Chat & Email Support

Premium

9899

all inclusive fees

  • Unlimited Users
  • Unlimited Estimates
  • Unlimited Invoices
  • Unlimited Purchase Invoices
  • Unlimited Purchase Orders
  • GSTR-3B Return Filing
  • GSTR-1 Return Filing
  • GSTR-4 Return Filing
  • GSTR-9 Return Filing
  • Input Tax Credit Reconciliation
  • GST eWay Bill
  • GSTN API Connect to File Directly
  • Import or Export to Excel
  • Import or Export to Tally
  • Phone, Chat & Email Support

Procedure for issuing GST invoice

All of the GST invoices must be prepared in triplicate in case of the supply of goods

  • The original copy should be marked as ORIGINAL FOR RECIPIENT.
  • The duplicate copy should be marked as DUPLICATE FOR THE TRANSPORTER.
  • The Triplicate copy should be marked as TRIPLICATE FOR SUPPLIER.

In case of the supply of services, the invoices should be prepared in duplicate

  • The original copy should be marked as ORIGINAL FOR RECIPIENT.
  • The duplicate copy should be marked as DUPLICATE FOR SUPPLIER.

Uploading GST invoice on GST Portal

The serial number of all invoices issued during a tax period should be filed through Form GSTR-1 every month. The GSTIN of all the recipients that are registered under GST must be mentioned on GSTR-1 filing for B2B transactions.

In case the recipients are not registered under GST or B2C transactions, name, address, and place of supply should be mentioned for the high-value transaction. GSTR 1 filing made by the supplier will be auto-populated in GSTR-2 filing to be submitted by the recipient of the goods or services.

Hence, GST invoicing plays a crucial role in input tax credit claims for the counterparty.

Why use Ledgers for GST invoicing?

Advantages of using LEDGERS for GST invoicing

The following are some of the significant advantages of using LEDGERS for invoicing:

Seamless Estimate to Invoice Conversion

Invoicing is the core of revenue cycle management. With Ledgers, an individual can receive estimates or quotes and easily convert an invoice on receiving payment or delivering goods/services.

With the integrated estimates and invoicing solution, it is easy to track the estimates, and invoicing solutions, the estimates that are converted can be easily tracked.

Track Payments and Receivables

Track payments received against invoices, split payments received against multiple invoices, and easily reconcile accounts. One-click issuance and reconciliation of payment or cash receipts. Automatic preparation of Accounts Statement with payments reconciliation for end-customer.

Payment Gateway Integration

Integrated UPI Payment gateway or third-party payment gateways to help you receive payments through UPI or Credit/Debit card on estimates and invoices. UPI payment mechanism is the fastest growing payment mode in India and is supported by a wide range of mobile apps like GooglePay, Whatsapp, PhonePe, and Paytm.

Frequently asked questions

Is there any difference between invoice date and due date?

Invoice date is the date when the invoice is created on the bill-book, while the due date is when the payment is due on the invoice.

How to issue an invoice under reverse charge?

In case of GST payable under reverse charge, it is necessary to additionally mention that tax is paid on a reverse charge, on the GST invoice.

Importance of maintaining invoice serial number?

Yes, invoice serial number must be maintained. An individual may change the format by providing a written intimating the GST department officer along with reasons for the same.

Is it possible to sign my invoice using DSC on the portal?

Yes, you can digitally sign invoice through DSC.

Is it mandatory to write tax invoicing over the GST invoice?

Under the GST Tax law, it is mandatory for any person who is registered under the act and is buying goods and services from the unregistered person has to issue the payment voucher as a tax invoice.

When is the Invoice to be issued?

An Invoice is issued if the value of the supply is less than Rs.200 and is subjected to conditions.

Who is eligible for the GST invoice?

A registered person who is supplying taxable, as well as the exempted goods and services to an unregistered person, can issue an invoice for such supplies.

Is state code mandatory in GST invoices?

Both state code and the name of the state are to be mentioned in the GST invoice.

What is the HSN code in GST?

The HSN code is the abbreviation of “ Harmonized System of Nomenclature”. It is a Six digit uniform code classifying 5000+ products and is accepted worldwide.

Is issuing an invoice possible before delivery?

In the case of services, the supplier should issue the invoice before or after providing the service. But issuing services thirty days late from the date of providing service is not possible.

When to raise an invoice?

An invoice is to be raised on a consolidated basis for all the payments that are made during the day on which the GST is levied on a reverse-charged basis. The person who is registered should also issue a payment voucher concerning such supplies at the time of making the payment to the supplier.

What is GST Invoice?

The GST invoice is a tax invoice or a legal document that includes the list of goods and services that are provided by the seller or the dealer who is registered under GST to the buyer or the purchaser with the amount that is due for payment.

Last updated: August 03, 2021

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