What is a GST invoice?

Taxable suppliers can issue GST Tax invoices to their customers when they provide goods or services. Suppliers can issue invoices during or before:

• Delivery of the goods to the recipient.
• Movement of the goods for delivery to the recipient if the supply involves transportation.

This article will help you to get more detailed information about GST Tax Invoices, so go to this link.

If you offer services, the invoice must be issued before or after the service is rendered.

This must, however, be completed within 30 days of the service's beginning. The invoice must be issued within 45 days of the day services begin if the supplier of the services is an insurance company or financial institution.

You can use Kernel.Finance for generating GST Invoices effectively and easily.

Types of GST Tax Invoices

Tax Invoice

A tax invoice must accompany all supplies provided by a GST-registered person. Invoices issued to B2B and B2C clients for taxable services and goods are called tax invoices. When transferring stock interstate, the tax invoice is also issued. This tax invoice allows the recipient of the goods or services to take advantage of the input tax credit.

Bill of Supply

If you supply exempted goods or services or opt for a composition scheme, you must issue a bill of supply. The buyer is not able to claim an input tax credit with a bill of supply.

A bill of supply is optional if the registered person provides goods or services worth less than Rs.200. In this case, he prefers not to issue a bill of supply for such a small amount.

Payment Voucher

In order to make a reverse charge payment under GST, a person registered under GST must issue a payment voucher to the unregistered supplier.

Please keep in mind that we should issue a payment voucher for reverse-charge transactions.

Receipt Voucher

When we receive advance payment for the supply of goods or services, we have to issue a receipt voucher. It is our obligation under the GST regime.

Refund Voucher

For example, if a receipt voucher was issued to the buyer, but no supplies were made, the registered person would be required to issue a Refund Voucher.

Credit Notes

Typically, sellers issue credit notes to buyers in case of returning goods, goods' value reductions, or discount claims. The tax return should include detailed information about the credit note to decrease tax liability. Credit notes must be issued by September following the end of the financial year or by the filing date of the annual return, whichever comes first.

Debit Notes

It is possible for a seller to issue a debit note to a buyer if it appears that he has charged less than the actual value of the goods or services on the invoice. The seller must declare debit notes in the GST return for the month they were issued.

Delivery Challan

In order to prepare the tax invoice, the supplier issues a delivery challan and then transports the merchandise. A stock transfer between states can also be handled with this document.

ISD Invoice

It is issued to distribute the input tax credit among branches with the same PAN number.