Different Types Of Gst Invoice

As per GST, only the supplier can issue the GST invoice when supplying goods or services to a person in India. An invoice or bill of supply must be mandatorily issued, when the value of supply is more than Rs.200. In this article, we look at the different types of

GST invoice in details along with an overview of all related documents pertaining to GST.

GST Invoice

A taxable person shall issue the GST invoice under GST while supplying goods or services. The supplier shall issue an invoice for goods before or at the time of:

Removal of goods for supply to the recipient, where the supply involves movement of goods; or
Delivery of goods or making available thereof to the recipient, in any other case.

In case of supply of services, the invoice must be issued before or after the provision of service but within a period of 30 days from the date of supply of service. In case the supplier of services is an insurer or a banking company or a financial institution, including a non-banking financial company, an invoice must be issued within 45 days from the date of the supply of service.

Know more about GST invoice format

B2B Invoice

In a B2B GST invoice, the name, address and GSTIN or UIN of the customer must be mandatorily mentioned. Also, after issuing an invoice, the item level details pertaining to all B2B

invoices must be uploaded to GSTN while filing GSTR-1 return.

B2C Large Invoice

In B2C invoices wherein the value of taxable supply is more than Rs.50,000, the name and address of the recipient must be mentioned along with address of delivery and place of supply. The taxpayer shall also upload the invoice level information to the GSTN for all B2C invoices with a taxable value of over 2.5 lakhs.

B2C Invoices

All B2C invoices must be serially numbered and should contain invoice date, value of supply, amount of tax applicable, GST rate applicable and 1 of the goods supplied.

Bill of Supply

A person registered under GST can issue a bill of supply under GST when the supply consists of only exempted goods or services or the taxable person is registered under the GST composition scheme. Hence, a bill of supply does not contain details of IGST or CGST or SGST collected from the customer.

Procedure for creating a Bill of Supply.

Consolidated Tax Invoice

A registered person can opt-out of issuing a tax invoice or a bill of supply if the supplier receives less than Rs.200 for the value of supply or services unless requested by a customer and the transaction acts as B2C in nature. In such cases, the taxpayer can issue a consolidated tax invoice for all supplies at the close of each day.

Receipt Voucher

In case a person registered under GST receives an advance payment from a customer, the supplier must issue a receipt voucher. As per changes announced in the

22nd GST Council Meeting, SMEs with a turnover of less than Rs.1.5 crores are now not required to pay GST on advances received. After receiving an advance, if the supplier makes no supply and provides no invoice, then the taxpayer can issue a refund voucher against the receipt voucher. Know more about GST receipt voucher.

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Frequently Asked Questions

Common questions about GST Invoice Types and Requirements in India.

A GST invoice is a document that must be issued by a supplier when supplying goods or services to a person in India. It contains details such as the value of the supply, applicable tax rates, and the amount of tax collected. Issuing a GST invoice is mandatory when the value of the supply exceeds Rs. 200.

The main types of GST invoices are B2B invoice, B2C large invoice, B2C invoice, bill of supply, consolidated tax invoice, and receipt voucher. Each type has specific requirements for the details to be included and the circumstances under which it should be issued.

A B2B GST invoice should be issued when a supplier makes a supply to another registered business. It must include the name, address, and GSTIN or UIN of the customer, and the item-level details must be uploaded to the GSTN while filing GSTR-1 return.

A B2C large invoice is a type of GST invoice issued for B2C transactions where the value of the taxable supply exceeds Rs. 50,000. It must contain the name and address of the recipient, the address of delivery, and the place of supply.

A bill of supply should be issued by a registered person when the supply consists of only exempted goods or services or when the supplier is registered under the GST composition scheme. A bill of supply does not include details of IGST, CGST, or SGST collected from the customer.

A consolidated tax invoice can be issued by a registered person for B2C transactions when the value of the supply or service is less than Rs. 200, and the customer does not request a regular invoice. It consolidates all such supplies at the end of the day.

A receipt voucher must be issued by a supplier registered under GST when they receive an advance payment from a customer. It serves as a record of the advance payment received before the actual supply is made and the invoice is issued.

If a supplier receives an advance payment and issues a receipt voucher but does not make any supply or provide an invoice, they can issue a refund voucher against the receipt voucher to facilitate the refund of the advance amount.

For goods, a GST invoice must be issued before or at the time of removal or delivery of goods. For services, the invoice must be issued within 30 days from the date of supply, except for insurers, banks, and financial institutions, where the time limit is 45 days.

HSN (Harmonized System of Nomenclature) codes are used to identify goods, while SAC (Services Accounting Code) codes are used for services. These codes must be mentioned on B2C invoices to identify the goods or services supplied.