GST Invoice format

  B) Accounting & Billing

GST Invoice Format and Compliance under GST Law

GST Invoice format has been one of the most talked about topics under the GST roll-out. It is one of the change that has affected the entire business community equally.

When creating a GST invoice as per GST rules and regulations, there are multiple items to be considered .

For your ready reference, note that the following fields are mandatory for any GST invoice to be compliant with GST law:

Seller Information

  1. Name of Seller
  2. Address of Seller
  3. GSTIN of Seller
  4. GST Registration state of Seller

Buyer Information

  1. Name of Buyer
  2. Address of Buyer
  3. GSTIN of Buyer
  4. GST Registration state of Buyer (commonly referred as ‘Place of Supply’)
  5. Shipping address (if different from billing address)

Invoice & Billing Information

  1. Invoice Number and Invoice Date
  2. Item HSN/SAC code
  3. Item Quantity, Unit and Rate
  4. Taxable value and discount of item(s)
  5. IGST/CGST/SGST rate of tax and amount

In addition to the above mentioned information, there are some additional disclosure requirements for export invoices.

Export GST Invoice Information

  1. Buyer’s Country
  2. Shipping Bill Number and Shipping Bill Date
  3. Shipping Port
  4. Heading should be ‘EXPORT INVOICE’
  5. Mention if goods are exported with or without payment of GST
  6. If exporting without payment of GST, mention if exporting under Bond or Letter of Undertaking

We hope this summary will help clarify some common doubts related to invoicing under GST regime.

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Useful links and articles:

  1. Creating GST Invoices
  2. Getting Started with TaskERP
  3. GST Portal