A person selling branded goods or goods with predefined MRP (maximum retail price) that is inclusive of taxes will require this GST Invoice format for selling goods on MRP inclusive of taxes.
This template contains reverse calculations which will extract the tax amount from the MRP.
You can find all types of GST invoice and voucher formats on our page of GST Templates
We have created an Excel Template for GST Invoice format for selling goods on MRP. Just change the details in the heading section and start using the template.
You will insert the MRP of the goods and it will automatically compute individual taxes as well as taxable value.
The rules applicable to this will be same as of the general GST Invoice Format.
You can find the rules predefined by government related to the contents of a Tax Invoice on the link below:
Let us discuss the contents of the template in details.
Contents of GST Invoice Format for Selling Goods on MRP
This template consists of 4 sections.
- Supplier Detail
- Customer Detail
- Product Detail
- Billing Summary and Remarks
1. Supplier Details
The header section consists of supplier details such as company name, logo, address, GST number etc.
2. Customer Details
Customer detail section contains fields such as customer name, address, GST number, Place of supply, State, State Code.
In addition to that, it contains Invoice number, Invoice Date, Order number and Order Date.
3. Product Details
The product details section consists of following subheadings:
Sr. No.: Serial Number of the product.
Description: Description of the commodity or goods sold.
HSN Code: Harmonised System of Nomenclature Code for goods to be supplied.
Qty: Quantity of Goods.
Unit: Unit of goods to be supplied such as meters, kgs, tons, etc
Rate: Price per unit of the goods to be supplied.
Total Amount: Total Amount = Rate X Units.
Disc.: Discount provided on goods to be supplied if applicable.
Amount After Tax: Line total for the item to be supplied which is including tax amount.
Taxable Value: Taxable value is calculated on the basis of the applicable percentage.
If the total of CGST and SGST is 5 %, 12%, 18% or 28% then the Amount after tax will be divided by 1.05,1.12,1.18 and 1.28 respectively.
CGST: This column has two sub columns. Percentage rate applicable and the amount.
CGST Amount = CGST Rate X Taxable Value.
SGST: This column also has two sub columns. Percentage rate applicable and the amount.
SGST Amount = SGST Rate X Taxable Value.
Total Value: The Final total of the line will be displayed in this column.
Total value = Taxable Value + CGST + SGST.
4. Billing Summary and Remarks Section
In this section, there are fields of the Amount in words, Remarks, business greetings, company seal, authorized signatory etc.
Additionally, it has the following billing summary:
Invoice Value: The total here is derived from the horizontal total of the Total Value column.
Discounts: Derived from the horizontal total of discounts column.
Taxable value: It is Derived from the horizontal total of taxable value column.
Grand Total: Grand Total = Taxabl Value + CGST + SGST.
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