INVOICE

In the last session we learn about the GST portal with practical knowledge and today we learn how should we prepare different types of INVOICE.

So here is the brief discussion about the today’s topic INVOICE.

The shops or the company which are registered under the gst whose turnover above the 40 lakh create this type invoice. Here is the formate of tax invoice is given.

We can see many details in above format like saler, buyer,GST no of saler, GST no of buyer,contact detail of saler and buyer company, particular item description, qty of item, rate of item,calculation of gst etc. Company should write their T&C below the invoice.

The shop or the company which are not registered under the gst they should prepare this type invoice .

This is the format of retail invoice or pro forma invoice. Also bank details and payment details are given in the invoice

This are the types of the invoices

When we use the vat system taxation we can get the credit, same in the gst taxation we get the credit. So invoice is the neccessary document for get the credit.

If don’t prepare the invoice we can not get the credit. Within 180 days we don’t pay the tax after deduction of credit the credit will automatically revise and we can not refund back this credit.

So in the gst taxation system this invoice is very important.

In the invoice the no of invoice is important part. In the invoice we can entered maximum 16 digit. Digit varies as per the company rules and regulation. If invoice no is more than 16 digit portal does not accept the invoice and we doesn’t get the credit.

In this there is two types codes for good and service. For supply of good there is HSN(Harmonized System of Nomenclature ) and Sac code (Services Accounting Code)is for the supply of service.

So this is the breif detail of today’s session

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