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TAX INVOICE

What Are The Different Types Of GST Invoices and Vouchers?

There are 8 main types of GST invoices and vouchers prescribed for different types of transactions. They are:

  1. Tax Invoice.
  2. Bill of supply.
  3. Receipt Voucher.
  4. Refund voucher.
  5. Payment Voucher.
  6. Debit note and credit note.
  7. ISD Invoice.
  8. Delivery challan.

Let us discuss the purpose of each in detail.

GST Invoices and Vouchers

1. Tax Invoice

It is mandatory for every person registered under GST to issue a tax invoice for all applicable supplies. A tax invoice is an invoice issued for the supply of taxable goods or services to B2B and B2C clients. It is also issued during inter-state stock exchanges.

2. Bill of Supply

A bill of supply is required to be issue when the goods or services are exempt from tax or composition dealer.

3. Receipt Voucher

Receipt voucher is required for advance payment in connection with supply of good or services.

4. Refund Voucher

Refund voucher is issued when no subsequent supply has been made against the receipt voucher received as an advance.

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5. Payment Voucher

A payee who is liable to pay under the reverse charge is required to provide a payment voucher to the supplier at the time of payment.

6. Debit and Credit Notes

The debit note is issued where an earlier issued tax invoice for the goods or services or both is found to be less than the taxable value.

The credit note is issued where an earlier issued tax invoice for the goods or services or both is found to exceed the taxable value.

A credit note is also issued when the supply of goods or services is deficient the goods are returned back to the supplier.

7. ISD Invoice

An ISD invoice is issued to distribute the input tax credit amongst the branches formed under the same PAN.

 8. Delivery Challan

A delivery challan is issued for the Transporting the goods before the tax invoice is prepared. It also issues stock exchanges within the state.

Format of delivery challan under GST

  • The document needs a serial number. However, the number of digits in one or more ranges must be less than sixteen characters. All delivery challans should have all the following information:
  • (Date (challan, transport) Number of delivery challan
  • If registered, the customer’s name, address and GSTN.
  • Registration If registered: Name, Address, GSTN or Customer’s Unique Identity Number. Name, address and place of distribution if not registered.
  • HSN code for goods
  • Description of objects
  • Supply quantity of goods delivered (optional, if quantity of supply not known)
  • The taxable value of the supply supply
  • G GST tax rate and tax amount divided into CGST, SGST, IGST and GST cess – where the transporter is the supplier
  • Distribution area in terms of interstate movement of goods
  • Signature

Method to Issue Delivery Challan under GST

According to Rule 55 (2) of CGST Rules, Delivery challans under GST will need to be in triplicate as below:

  • The original copy for the buyer needs to be marked as ORIGINAL FOR CONSIGNEE.
  • The duplicate copy for transporter should be marked as DUPLICATE FOR TRANSPORTER.
  • The triplicate copy for the seller should be marked as TRIPLICATE FOR CONSIGNER
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All invoice issued by businesses under GST must contain the following information:

  • Name, address, and also GSTIN of the supplier
  • A consecutive serial number not exceeding sixteen characters, in one or multiple series, containing alphabets or numerals or special characters hyphen or dash and slash symbolized as “-” and “/” respectively, and any combination thereof, unique for a financial year.
  • Date of its issue
  • Name, address and GSTIN or UIN, if registered, of the recipient
  • Name and address of the recipient and the address of delivery, along with the name of State and its code, if such recipient is un-registered and where the value of taxable supply is fifty thousand rupees or more;
  • HSN code of goods or Accounting Code of services;
  • Description of goods or services;
  • Quantity in case of goods and unit or Unique Quantity Code thereof
  • The total value of the supply of goods or services or both
  • The taxable value of supply of goods or services or both taking into account discount or abatement, if any
  • Rate of tax (central tax, State tax, integrated tax, Union territory tax or cess)
  • Amount of tax charged in respect of taxable goods or services (central tax, State tax, integrated tax, Union territory tax or cess)
  • Place of supply along with the name of State, in case of a supply in the course of inter-State trade or commerce
  • Address of delivery where the same is different from the place of supply
  • Whether the tax is payable on a reverse charge basis; and
  • A signature or digital signature of the supplier or his authorized representative.