With the implementation of Goods and Services Tax from 1st July 2017, as a registered business entity we need to issue a GST invoice whenever the supply of taxable goods or services is made.
We have earlier posted an invoice template when GST was introduced in the Union Budget 2017. At that time the rules and regulations were not finalized.
Now the GST is about to be implemented from July, the government has defined some rules for issuance of GST Invoices.
Rules of GST Invoice
Subject to rule 7, a tax invoice referred to in section 31 shall be issued by the registered person containing the following particulars:-
- Name, address, and GSTIN of the supplier.
- A consecutive serial number not exceeding sixteen characters, in one or multiple series, containing alphabets or numerals or special characters hyphen or dash and slash symbolized as “-” and “/” respectively, and any combination thereof, unique for a financial year.
- Date of its issue.
- Name, address and GSTIN or UIN, if registered, of the recipient.
- Name and address of the recipient and the address of delivery, along with the name of State and its code, if such recipient is un-registered and where the value of taxable supply is fifty thousand rupees or more.
- HSN Code of goods or Accounting Code of services.
- Description of goods or services.
- Quantity in a case of goods and unit or Unique Quantity Code thereof.
- The total value of supply of goods or services or both.
- The taxable value of supply of goods or services or both taking into account discount or abatement, if any.
- The rate of tax (central tax, State tax, integrated tax, Union Territory tax or cess).
- The amount of tax charged in respect of taxable goods or services (central tax, State tax, integrated tax, Union Territory tax or cess).
- Place of supply along with the name of State, in the case of a supply in the course of inter-State trade or commerce.
- Address of delivery where the same is different from the place of supply.
- Whether the tax is payable on reverse charge basis and
- Signature or digital signature of the supplier or his authorized representative.
GST Invoice Template
We have created an easy to use GST Invoice Excel Template with following the above guidelines. Just enter few details and the template will compute all the rest items for you.
This template helps you to efficiently and easily issue the invoices to your clients with CGST, SGST, and IGST Computations.
It is useful for Accounts Assistant, Accountants, Audit Assistants etc.
Let us discuss the contents of the template in detail.
Contents of the GST Invoice Template
This template consists of 5 sections
- Header Section.
- Customer Details Section.
- Product and Tax Details Section.
- Billing Summary Section.
- Signature Section.
1. Header Section
Header section consists of the company name, company address, company logo, GSTIN and the heading of the sheet “GST Invoice Template”.
2. Customer Details Section
Customer Detail section consists of details of a customer such as the name of the customer, address, GSTIN, Invoice Number, Place of Supply (POS) and Invoice Date.
3. Product wise Tax Details Section
This section consist of multiple subheadings which are as below:
Sr. No.: Serial number of items/products.
Product Description: Description of the Product.
HSE/SAC Codes: HSN code of goods or Accounting Code of services.
To know the HSE code for your product, download the pdf file from the below link:
To know the SAC Code for your product, download the PDF file from the below link:
Qty: Quantity of goods supplied.
Units: Unit of the product like meters, pcs, kgs etc.
Rate: Rate/unit of Product.
Total Sale: Total amount of sales done. The formula applied here is Quantity X Rate. =E13*G13.
Disc.: Discount if applicable.
Taxable Value: Total Sale – Discount = Taxable Value.
CGST: This column has 2 subdivisions. The Rate and the Amount. The rate is the applicable rate of CGST which is to be entered manually. The Amount is the Taxable Value X Rate of CGST.
SGST: The rate is the applicable rate of SGST which is to be entered manually. The Amount is the Taxable Value X Rate of SGST.
IGST: The rate is the applicable rate of IGST which is to be entered manually. The Amount is the Taxable Value X Rate of IGST.
Note: If IGST is applicable the CGST and SGST are not collected.
Total: Below each column total of each head is made for easy calculation purpose.
4. Billing Summary Section
The Summary section consists of the total of billing amount payable by the customer.
Payable Amount = Total Invoice Value – Discount + CGST + SGST + IGST.
5. Signature Section
Signature Section consists of miscellaneous items like remarks, business greeting and Signatures of the receiver of the invoice and the accountant.
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