I will show you how to generate bills of supply and Tax Invoice. A Tax invoice is very important document, you must posses invoices of your purchases/inward supplies to claim input credit, in same manner your buyer should have the valid tax invoice to claim input tax credit.
From July 1, 2017 Goods and Services Tax (GST) will be implemented in India. Your current invoice or bill books will be of no use once GST is implemented.
Many people who are running business, have a common question whether printed bill books will be allowed under GST or not?
Let me be clear that printed bill books are allowed under GST. You can order printed books, if computer generated invoice is not your first choice.
However, I will recommend you to use computer generated invoice for your business. It makes you look more professional. Your bill books may get damaged, lost or tempered but with a software using proper backups and security these can be avoided.
A large number of traders have followed the practice of using printed bill books for invoicing their customers. In case you are using printed invoice books, your normal work flow looks like this:
However under GST, you can continue with this practice but you should compare the advantages and disadvantages of using a computerized invoicing software.
The main question for you is whether you should continue with printed books or migrate to an invoicing software!!!
To arrive at a conclusion, first understand return filing process under GST.
Earlier under VAT laws, the due date of return filing was 20th in almost all states and you had enough time to account your sales bills.
But under GST, the details must be uploaded before 10th to ensure smooth credit flow to your buyer and also to avoid negative impact on your GST compliance rating.
You must answer the following question to decide whether to continue with printed bills or invoicing software.
These are the top question that came to my mind. With specific requirements of your particular industry, you may have you own priorities. You can consider them too for your decision.
If you have decided to go with printed bill book or a computer generated invoicing software, the step for you will be to understand the TAX INVOICE itself.
Your tax invoice should contain the following details:
Details of seller/supplier
Details of buyer/recipient if registered under GST
Details of buyer/recipient if not registered under GST and value of taxable supply is 50,000 or more
Details of products to be provided in invoice
You can sign your tax invoice using a digital signature or manually. Invoice can be signed by authorised representative also.
Below is a sample of Tax invoice under GST.
You can understand the difference between a bill of supply and Tax invoice by reading them. A bill of supply is only a bill or document for supply of goods whether Tax invoice is document with tax charged on supplies.
A bill of supply does not contain the details of tax charged on supplies.
Registered person paying tax under composition scheme, will have to issue a bill of supply because they cannot charge tax on sale/supply.
Those paying tax under normal levy will have to issue a tax invoice.
You can use MS Excel to generate GST invoices.
You can download the GST invoice format in excel, I have made this format and you can use it for free.
To help you in GST regime, I have designed and coded an GST invoicing application.
You can use this application to generate invoice.
Instructions to use this application are provided on the homepage.
i deals indifferent industrial gases there is no hsn code foun in list for industrial gases,can we use printed tax invoice
what is way bill
HSN has code for gases. Anyhow these chemical only. Correct me if I am wrong.
You can search HSN list on this site with proper chemical name or search with HSN description.
I got few, giving here one:
IN GST SALES INVOICES..
1. HOW DO WE SHOW FORWARDING / PACKAGING / DELIVERY CHARGES ??
2. ARE THESE CHARGES TAXABLE ? IF YES DO WE CALCULATE & SHOW THESE TAXES SEPARATELY
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