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In the GST regime, primarily two types of GST bill or GST invoices will be issued, according to the GST billing process:
The GST council has prescribed standard GST Bill format in India, which are downloadable as GST Bill format PDF at the CBEC website.
When a registered taxable person supplies taxable goods or services – a Tax Invoice is issued. The GST sales bill format is extremely crucial since, to issue and receive a GST compliant invoice is a prerequisite to claim Input Tax Credit (ITC) . If a dealer does not issue such an invoice to his customer (who is a registered taxable person) – his customer loses the claimable ITC and the dealer loses his customers. The bill format for GST is thus important both for the supplier as well as the customer.
Businesses need to ensure that the following mandatory GST bill details are being captured in the GST Bill format:
These details of GST bill should be filled out carefully for each transaction as per the GST billing format prescribed by the GST council.
The tax invoice must be issued before or at the time of:
The tax invoice must be issued within:
Three copies of the GST billing format in India are required – Original, Duplicate, and Triplicate.
Two copies of the GST bill format India are required:
As per the provisions of bill format in GST, a tax invoice need not be issued when the value of the goods or services supplied is less than INR 200 if:
Bill of Supply is to be issued by a registered supplier in the following cases:
Similar to the tax invoice billing format in GST, a bill of supply need not be issued when the value of goods or services supplied is less than INR 200, unless the receiver insists for the bill. However, a consolidated bill of supply should be prepared at the end of the business day for all such supplies for which the bill of supply is not issued.
What is Invoice Reference Number (IRN) in GST? Format and How to Generate IRN?