GST Invoicing

When an individual or any entity who are registered under gst act,   having goods and service tax  number deal in purchasing or selling goods and rendering or providing services which are taxable under gst act.their is a need to issue a tax invoice.

Use of tax invoice:-

• It is a prerequisite to claim input tax credit.
• Customer creadibility or goodwill.

The gst tax invoice,credit and debit note rule describe the format of gst invoice and its related rules.

You have to prepare proper journal and ledger with their tally to assured that invoices under gst has been prepared by registered entity or individual confirms all the standards laid down by the gst rules and regulations for supplying taxable goods and services.

Gst invoices can be issued at anytime before the time of suplly of taxable goods or services or even after the time of supply of taxable goods or services.

Proper gst invoices help you to increase your sale,decrease your outstanding receivable,reduced complexibilities,give your business a new growth..

There are two types of gst invoices:-

• Tax invoice:- this type of invoice is issued for all sales which are taxable.this invoice include commonly bill covered for :-

1. Sale which are done at local level
2. Sale which are done at central level
3. Sale which are done at international level(i.e. export)

• Bill of supply:- this type of invoice is issued for all sales which are exempt and all those sales which are done by composition dealer.
  
  

The calculation of tax which is used in making the invoice:-

• The sale which are done at local level means the intra state sale the central and state gst will be charged at equally on that sale.(gst =cgst+sgst).
• The sale which are done at central level means the interstate sale the integrated gst will be charged on that sale (igst rate= cgst+sgst).