GST Invoicing – An Overview
GST Invoicing is an essential compliance requirement under the Goods and Services Tax (GST) regime in India. Every registered business must issue proper GST-compliant invoices while making taxable sales or supplies. GST invoices not only enable the recipient to claim input tax credit but also ensure smooth tax reporting and compliance.
Mandatory for Registered Dealers:
All GST-registered businesses must issue tax invoices with GSTIN, HSN/SAC codes, and tax breakup.
Input Tax Credit Eligibility:
Proper invoicing ensures the buyer can claim input tax credit, reducing their tax liability.
Standardized Format & Compliance:
Invoices must follow prescribed format with serial numbering, buyer-seller details, and tax amounts.
Details Required for GST Invoicing
To generate GST-compliant invoices, the following details are required:
Supplier’s Name, Address, and GSTIN
Invoice Number and Date
Buyer’s Name, Address, and GSTIN (if registered)
HSN Code or SAC Code of Goods/Services
Taxable Value, CGST, SGST, IGST, and Total Amount
Place of Supply and Reverse Charge (if applicable)
GST Invoicing Timeline
GST invoices must be issued at the time of supply: on or before delivery in case of goods, and within 30 days of service provision. Delayed or incorrect invoicing may result in penalties and denial of input tax credits.
Frequently Asked Questions
- What is a GST Invoice?
- Is It Mandatory to Issue GST Invoice?
- Can GST Invoice Be Issued Without GSTIN of Buyer?