GST Invoice

GST Tax Invoice Requirements and Checklist

According to the GST laws and regulations, all invoices produced by entities subject to the GST should include the following information:

• Supplier's name, address, and GSTIN
• A sequential serial number that does not exceed sixteen characters in one multiple series and contains alphabets, numbers, or special characters such as hyphens or dashes (- or /) and any combination thereof that is unique for a financial year.
• Serial Number Issuance Date
• The recipient's name, address, and GSTIN or UIN, if registered.
• If the receiver is unregistered and the taxable value is $50,000 or more, include the recipient's name and address, as well as the delivery address, as well as the state's name and code.
• Accounting Code of Services or HSN Code of Goods.
• Product or service description
• In the case of products, quantity and unit or unique quantity code
• The entire cost of supplying products or services, or both.
• The taxable worth of a supply of goods or services, or both, after deducting any discounts or reductions.
• The tax rate (central tax, state tax, integrated tax, Union territory tax or cess)
• The amount of tax levied on taxable products or services (central tax, state tax, integrated tax, Union territory tax, or cess)
• If the provision is made in the course of interstate trade or commerce, the location of the supply, as well as the name of the state, must be included.
• Delivery address that differs from the site of supply
• Whether or not the tax is due on a reverse charge basis, as well as
• The supplier's or his/her authorised representative's signature or digital signature.

Procedure for generating a GST invoice

In the event of the supply of goods, all GST invoices must be completed in triplicate.

• ORIGINAL FOR RECIPIENT should be written on the original copy.
• DUPLICATE FOR THE TRANSPORTER should be written on the duplicate copy.
• TRIPLICATE FOR SUPPLIER should be written on the triplicate copy.

In the case of service provision, invoices should be generated in duplicate.

• ORIGINAL FOR RECIPIENT should be written on the original copy.
• DUPLICATE FOR SUPPLIER should be written on the duplicate copy.

Adding a GST invoice to the GST Portal

Every month, the serial number of all invoices issued during a tax period must be reported on Form GSTR-1. For B2B transactions, the GSTIN of all registered receivers must be included on the GSTR-1 form.

If the receivers are not registered for GST or B2C transactions, the high-value transaction should include their name, address, and location of supply. GSTR 1 filings produced by suppliers are auto-populated in GSTR-2 filings made by recipients of goods or services.

As a result, GST invoicing is critical in claiming input tax credits for the counterparty.