Discover the CA Invoice Format for Businesses that Streamlines Your Documentation

Ca invoice format for businesses

[Music] [Music] Hello friends I ca kamakshi kandwal welcome you all to my next session today I would be discussing about the invoicing [Music] Provisions what type of invoice are required to be generated in GST along with their formats so let's start mainly there are eight type of invoices prescribed for different types of transactions first is the tax invoice a tax invoice is required to be issued for making taxable supplies of goods or services to B2B as well as b2c customers B2B means when the supply is taking place from one registered person to another registered person and b2c means when the supply is taking place from one registered person to an unregistered person tax invoice is also required to be issued in case of reverse charge when you as the recipient is liable to pay tax it is also required to be issued at the time of making Interstate stock transfers second is the Bill of Supply a bill of Supply is required to be issued at the time of making exempt supplies or it is required to be issued by a composite dealer third it's the receipt voucher a receipt voucher is required to be issued at the time of receipt of advanced payment in relation to the supply of goods or services fourth is the refund voucher where receipt voucher has been issued for Advance received in relation to supply of goods or services but subsequently no supply has been made and no tax invoice has been issued pursuant there to then the registered person May issue to the person who had made the advanced payment a refund voucher against such payment fifth is the payment voucher a recipient liable to pay tax under reverse charge is required to issue a payment voucher at the time of making payment to the supplier next is the debit and credit notes a debit note is required to be issued in the following situation where a tax invoice has been issued for supply of any goods or services or both and the taxable value or the tax charged in that invoice is found to be less than the taxable value or the tax payable in respect of such Supply next is the credit note a credit note is required to be issued in the following situation first where a tax invoice has been issued for supply of any goods or services or both and the taxable value or tax charged in that invoice is found to exceed the taxable value or tax payable in respect of such Supply or second where the goods supplied are returned by the recipient or third where the goods or services or both supplied are found to be deficient next type of invoice is the ISD invoice that is input service distributor invoice an ISD invoice is required to be issued to distribute the credit amongst the branches of the entity having the same pan next is the delivery Chalan a delivery Chalan is required to be issued at the time of transport reporting Goods without the issue of invoice a delivery Chalan may be issued for the purpose of supply of liquid gas where the quantity at the time of removal from the place of business of the supplier is not known second transportation of goods for job work third transportation of goods for reasons other than by the way of Supply like the good sent on approval good sent for inate stock transfer movements Etc now let's start discussing the formats one by one first is the tax invoice this is the sample format of a tax invoice a tax invoice should have all the particulars as shown here firstly the invoice must have the name address and gstti number of the supplier the gstti number is is a 15 digigit alpha numeric number second it should have a bill number and Bill date the bill number should not be more than 16 digits it can contain alphabets numerals or special characters it should be serially numbered and must be unique for a financial year third it should contain whether the tax is payable on reverse charge basis yes or no the user needs to take whether the supply made by them is covered under reverse charge fourth it should contain the name address and gstti number if registered of the recipient the address of the recipient is mandatory if the invoice value is more than 50,000 when the supplies are made to an unregister dealer it should also have the name and address of delivery along with with the name of state and its code if the place of Supply is different from the place of billing this is mainly required in the case of Bill to ship to model next the invoice should have the description of goods or services supplied the etsn code of the goods or the S code of the services quantity unit and rate per item in case of goods next the total value of supply of goods or services or both discount or abatement if any taxable value of supply of goods or services or both taking into account the discount or abatement if any rate of Tax Central tax state tax igst or the utgst amount of tax charged in respect of taxable Goods or services in my example I have taken the total value of goods supplied as 15,000 total discount as R 5,000 the taxable value turns out to be 10,000 now I'm assuming the cgst and the sgst rate as 14% each therefore the tax amount comes to 1,400 in the next line I have taken the total taxable value is 10,000 and no discounts therefore my total value and my taxable value are the same as 10,000 now I'm assuming that this is an interstate Supply and the rate of igst is 28 person therefore my tax amount turns out to 2800 lastly the invoice should contain the signature or the digital signature of the supplier or or his authorized signatory the supplier May at his option mention the details of the transportation of the goods like the name of the transporter the vehicle number and the mode of dispatch as by air sea or land now the next type of invoice is the export invoice in this all the particulars are the same as tax invoice in addition it must contain an endorsement at the top of the invoice as Supply meant for export on payment of igst or Supply meant for export under bond without payment of igst so if a supplier has executed a bond and is making export of goods or services without the payment of tax then the supplier will write an endorsement as Supply meant for export under bond without the payment of igst and it shall not charge any tax on the invoice next is the Bill of Supply the bill of Supply should contain all the particulars as specified in the tax invoice except the tax column the bill of Supply should contain only the taxable value and no column for tax rate or tax amount since it is issued for making exempt supplies on which no taxes applicable now coming over to the next type of invoice is the receipt voucher in the receipt voucher same particulars are required to be mentioned like the name address and gstti number of the supplier and the receiver in addition here the user has to mention the amount of Advance received from the customer and the rate of tax there on in case the supplier does not know the rate of tax applicable on a good or a service at the time of receipt of Advance then he shall charge the rate as 18% and if the supplier does not know the nature of Supply whether it is an interstate Supply or an interstate Supply then he shall treat the transaction as an interstate Supply and charge igst so I hope all the particulars are clear in the case of receipt voucher moving over to the next type of invoice it's the refund voucher in this the supplier needs to mention the receipt voucher number and date for which he is refunding the amount rest all of the things Remains the Same next is the payment voucher it will be prepared in the same manner as that of the refund voucher all the particulars remain the same next is the debit or credit note in this the user has to mention the details of the original invoice number and the original invoice date against which the debit or the credit notice being issued rest all the things are the same as that mentioned in the tax invoice last is the delivery Chalan the format of the delivery Chalan is exactly the same as that of a tax invoice a delivery Chalan is issued for making any intrastate stock transfers or it is required when any goods are sent on approval basis so the dealer needs to mention the details of the consigner as well as the consigning now there are some other relevant Provisions like like the time limit for the issuance of invoice in the case of supply of service is 30 days and in the case of a Banking Company the time limit is 45 days the invoice rules also provide for issue of tax invoice with minimum details in special cases like ISD Banking Company or a financial institution Goods Transportation agency and passenger transportation service in case of a passenger transportation service the invoice is the ticket in the case of a Goods Transportation agency the buil is the ticket now one thing I need to say that every taxable person has to prepare a horizontal invoice as against the current practice of preparing a vertical invoice hope you all enjoy today's session you can email me your queries at my mail ID you can also subscribe to my YouTube Channel CA kamakshi for more videos on GSD thank you have a nice day [Music]