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:
- Name of Seller
- Address of Seller
- GSTIN of Seller
- GST Registration state of Seller
- Name of Buyer
- Address of Buyer
- GSTIN of Buyer
- GST Registration state of Buyer (commonly referred as ‘Place of Supply’)
- Shipping address (if different from billing address)
Invoice & Billing Information
- Invoice Number and Invoice Date
- Item HSN/SAC code
- Item Quantity, Unit and Rate
- Taxable value and discount of item(s)
- 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
- Buyer’s Country
- Shipping Bill Number and Shipping Bill Date
- Shipping Port
- Heading should be ‘EXPORT INVOICE’
- Mention if goods are exported with or without payment of GST
- 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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