With the implementation of Goods and Services Tax from 1st July 2017, as every registered business entity need to issue a GST invoice whenever the supply of taxable goods or services is made.
To understand the types of invoices and how taxable services are liable to GST, scroll down below.
If you are looking for GST Bill of Supply Excel Format, you can find the same at Excel Downloads.
Types of invoices under Goods and Service Tax (GST)
There are two types of invoices under Goods and Service Tax (GST), namely,
- Tax Invoice – For all taxable sales
- Bill of Supply – For all exempt sales and sales by Composite Dealer
How is GST Charged for taxable sales ?
GST is charged differently for local sales and for central sales, to understand it better –
- For Local Sales – CGST and SGST will be applicable.
- For Central Sales – IGST will be applicable
CGST – Central Goods and service tax
SGST – State Goods and Service tax
IGST – Integrated Goods and service tax
Types of GST E-Invoices and Invoices
Since, we have seen how taxable items / supplies are liable to GST, now let us understand the types of invoices and e-invoices for taxable supplies in GST. Depending on nature of the supply you can define 3 types of invoices:
- Intra-State Invoice (GST CGST Invoice, GST SGST Invoice)
- Inter-State Invoice (GST IGST Invoice)
- Export Invoice
A business has to issue an Intra-state invoice when supply is done within the state in which the business is register. The issuer of invoice has to collect CGST and SGST on this invoice.
When a supply takes place between two different state the business needs to issue an Inter-state invoice. The business have to collect IGST on this invoice.
When we supply outside the country, an Export Invoice is issue.
What is E-Invoice in GST ?
e-Invoice is a system in which B2B invoices are authenticated electronically by GSTN for further use on the common GST portal. Under the electronic invoicing system, an identification number will be issued against every invoice by the Invoice Registration Portal (IRP) to be managed by the GST Network (GSTN).
Contents of a GST Invoice as per Section 31
The government has defined rules for issuance of GST Invoices. Subject to rule 7, a tax invoice in section 31 shall be issued by registered person containing the following particulars:-
- Name, address, and GSTIN of supplier.
- A consecutive serial number not exceeding sixteen characters, unique for a financial year.
- Date of issue.
- Name, address and GSTIN or UIN
- Name and address of the recipient and the address of delivery, along with name of State and its code.
- HSN Code of goods or Accounting Code of services.
- Description of goods and services.
- Quantity in case of goods and unit Unique Quantity Code thereof.
- The total value of supply of goods or services.
- The taxable value of supply of goods and services or both taking into account.
- The rate of tax,
- The amount of tax charged in respect of the taxable goods or services. Place of supply along with name of State, in case of supply in the course of inter-State trade or commerce.
- Address of delivery where same is different from the place of supply.
- Whether tax is payable on reverse charge basis and,
- A signature or digital signature of supplier or his authorized representative.
Download and use GST Invoice and GST Bill Excel Template
To use this free GST Invoice excel template, you should have Microsoft Office/ Microsoft Excel installed in your system.
After installing Excel or Spreadsheet, download the zip file of this template, extract the template using WinRAR or 7Zip decompressing software.
Once extracted, you can open the file using Excel and start entering data or customizing the template. You can customize the currency, color scheme, fields in this excel template as per your requirement.
You can make GST invoices for levying CGST, IGST and SGST with the help of this free GST Excel Template.
