Invoice Value And Taxable Value

Anu Kuriakose
watch_later 3 years, 8 months ago

what is invoice value and taxable value? how can we calculate taxable value and invoice value in the case of manual invoice generation?

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1 Answer

Pulkit Sharma watch_later 3 years, 8 months ago

Taxable value is the value on which tax is to be charged.

Invoice value is total value. These terms are not defined under section 2 of CGST Act.

Going by valuation rules you have to calculate the taxable value.

You can download excel format of gst invoice, and use for invoicing or you can use gst invoicing application to generate bills online.

You can also use manual hand written invoices, but format should be same and should contain all details required under rules.

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