This is one of the important preparatory steps as business houses, irrespective of the sizes , nature , goods/ service has to mandatory comply with the requirement from the day one itself. This article contains the analysis and summary of the rule along with the format of Invoice.

Tax Invoice

  1.  Registered Supplier
  2. For Taxable goods and/or services
  3. Cannot be issued by supplier opted composition scheme.

Bill of Supply

  1. Registered Supplier
  2. For Non-Taxable goods and/or services
  3. Supplier opted for composition scheme can issue Bill of Supply

 Registered taxable person may not issue a bill of supply if the value of the goods or services supplied is less than one hundred rupees (Rs.100/-) except where the recipient of the goods or services requires such bill

Consolidated Bill of supply- A consolidated bill of supply shall be prepared by the registered taxable person at the close of each day in respect of all such supplies where the bill of supply has not been issued in terms  that the value of the goods or services supplied is less than one hundred rupees (Rs.100/-).

Content of the Tax Invoice & Bill of Supply  (What) :-

There are 16 specific information/content mandatory required for Tax invoice, which are all listed below. Supplier can include any other details if needed over and above these mandatory required.

For Bill of supply (BOS) all the content of Tax invoice is not required, only some essential  8 points are needed which are marked in column no-3 as BOS.  These exclusions are calculation of tax and related details, noticeably not required in BOS as the same is for Non taxable or for Composition levy.

1.

Name, address and GSTIN of the supplier

BOS

2.

Date of its issue* (not preparation)

BOS

3.

Consecutive serial number containing only alphabets and/or numerals, (unique for a financial year)

BOS

4.

if Registered recipient :- 

•       Name of Recipient

•       Address of Recipient

•       GSTIN/ Unique ID Number,

If unregistered and taxable supply is 50,000 rupees or more;

•        Name of the recipient

•        Address of the recipient

•        Address of delivery (with Name of State & Code of State mentioned)

BOS

5.

If Goods – HSN Code

 (Only if notified by the Board / Commissioner)

If Services – Accounting Code

BOS

6.

Description of goods or services

BOS

7.

Quantity and Unit/Unique Quantity Code (in case of goods)

 
8.

Total value of goods or services

BOS

9.

Taxable value of goods or services (taking into account discount or abatement)

 
10.

Rate of tax (CGST, SGST or IGST)

 
11

Amount of tax charged in respect of taxable goods or services (CGST, SGST or IGST)

 
12.

Place of supply along with the name of State (in case of a supply in the course of inter-State trade or commerce)

 
13.

Place of delivery (where the same is different from the place of supply)

 
14.

Whether the tax is payable on Reverse charge

 
15.

The word “Revised Invoice” or “Supplementary Invoice”, indicated prominently, where applicable (Along with the date and invoice number of the original invoice)

 
16.

Signature or Digital signature of the supplier or his Authorized representative

BOS

Additional Requirement in case of Export :-

In case of Exports, the invoice shall carry an endorsement and details in lieu of the details mentioned in serial no 4 of Para B above. The same has been listed in the table below

1.

Endorsement

“Supply meant for Export on payment of IGST” or

“SUPPLY meant for Export under Bond without payment of IGST

2.

Name and Address of the recipient

3.

Address of Delivery

4.

Name of the Country of Destination

5.

Number and Date of application for removal of goods for export [ARE-1].