What is a GST tax invoice?

A GST tax invoice is a commercial document, containing evidence of transaction when the supplier supplies goods and services to the recipient, showing quality, quantity, value of service or goods, taxes charged on the product, etc. This bill is very important because it is the proof of sale and must be submitted to obtain input tax credit (ITC) under GST.

Key Components of a GST Tax Invoice

• Invoice Number and Date: Take an invoice number that must be unique and orderly, with the date of issuance.
• Supplier’s Information: It should have the name, address, and GSTIN of the supplier.
• Recipient’s Information: Name, Address of the Recipient, and GSTIN (if registered under GST Act).
• Quantity and Unit: Describe the quantity of items (or, in this case, tangible products) or service units in detail.
• Total Value and Taxable Value: It includes the separation of goods or services, where, above a threshold limit, the value of such goods or services can only be deemed worth paying tax on. Rs.
• GST Rates and Tax Amount: The relevant GST rates (that is, CGST, SGST, and IGST) shall also be mentioned with the amount of tax.
• Place of Supply: The delivery or service rendering location is critical. This is particularly important for interstate supplies.
• Terms of Supply: Indicate whether the supply is under reverse charge, the composition scheme, or a normal tax regime.

GST Invoice Rules

1. Invoicing in Multiple Copies: Businesses are required to issue three copies of the invoice for goods: original for the buyer, duplicate for the transporter, and triplicate for the seller’s record.
2. Invoice for Exports: For exports, an invoice must include "Supply meant for export on payment of IGST" or "Supply meant for export under bond or Letter of Undertaking without payment of IGST."
3. Revised Invoices: If there are any errors, you must issue a revised invoice before the return filing deadline for the month in question.

How to make GST Invoice in Excel

1. Launch Excel, and select New Workbook. Start up Microsoft Excel and then click on “File,” followed by “New.” Click on the Blank Workbook, which will open up a new spreadsheet.
2. Remove Gridlines: Navigate to the "View" tab. Under the Gridlines section uncheck that will make your invoice look clean.
3. Enter Company Details: On the top of sheet, insert your company logo, your business name and address, GSTIN (Goods and Services Tax Identification Number) and Contact.
4. Give Your Invoice Some Branding by Adding a Logo.
5. Then give the customer GSTIN and contact number, email id, pin code etc.
6. Enter the transaction information like payment method, bank account number and IFSC code.
7. Invoice ready to download with the above steps.

Steps to download GST bill format in Excel

1. Open the GST invoice that you have created in Excel.
2. Select the GST invoice area that you want to download and press “Ctrl+P” and then click on the “Print” option.
3. After clicking the “Print” option, you can download the GST bill format in Excel by choosing a suitable folder.

FAQs on GST Tax Invoice

• What is the time limit for issuing a GST tax invoice? A tax invoice needs to be issued at the time of removal or delivery, or making available is slightly changed, not that much. They do not extend to services but must be issued within 30 days of the supply.
• Can an invoice be issued without a GSTIN? No, only GST taxable person is entitled to issue a GST tax invoice. They can delete the GST details for unregistered businesses along with issuing simple invoices without GST.
• Is it possible to issue a GST tax invoice to a customer who has not registered under GST? Yes, you can raise goods and services invoices with GST for both registered and unregistered customers. However, this invoice lacks a GSTIN if the recipient is unregistered.
• How long should I retain a GST invoice? Businesses must retain copies of the GST tax invoices for at least six years from the due date of filing the annual returns.