GST Invoice Format 3.0| Free Dynamic Excel sheet

GST Invoice Format In India -min

GST Invoice Format in Excel

As per the new taxation system in India, Every registered dealer under GST has to make the invoice in the new format (GST Invoice Format)as per guided by Central Govt. or GST Act 2017. GST Invoice Format is the very crucial document in the GST Act, 2017 we have made software for you to provide help to you to generate GST Invoice.

Check Requirement of GST Invoice Format please Click Here

In this Topic, We will explain how to use our GST Invoice generator Software Step by Step as the following: –

  1. Feature of GST Offline Invoice Creator
  2. How to operate it <ol
    1. Download and Extract it
    2. Enter Your Organisation details
    3. add Inventories
    4. add some Customers
    5. create Invoice

1. Feature of GST Offline Invoice Creator: 

1 Life-Time Free Excess of 3.0 version
2 Auto-generated and save the invoice in just one click
3 Auto-generated new invoice No.
4 Auto Date Change to Current day Date
5 Auto Detect type of Sale (Interstate or Intrastate) and charge correct Type of GST i.e. IGST or CGST/SGST
6 Auto-detect Rate of GST from the stock list.
7 Maintained the list of stock. So, you don’t need to add stock items again and again while generating an invoice
8 Maintained the list of Customer. Select from the list and generate the invoice
9 Upload Your Logo 
10 Add different shipping address
11 Add E-way bill details
12 Auto-generate Summary for all sale
13 Save of Invoice as PDF in folders
14 Generate Three Copies of Invoice
-Customer Copy
-Supplier Copy
-Transported Copy
15 Auto Round off the total amount
16 Show all amount in rupee and paise with one click 
17 Show all amount only in rupee with one click 
18 Auto-generated total invoice amount in words
19 Add up to 10 number of Terms and conditions
20 You can add your bank details
21 Colourful invoice format 
22 You can generate an invoice for up to 25 number of items
23 GST amount is shown Item wise with the rate of percentage
24 You can be allowed Trade discount to you Customers charge in simple percentage and amount will auto calculate
25 You can add Contact person Details i.e Name, Email and Mobile No. in the customer list database
26 You can add the amount of freight paid

2. How to operate it

1. Download and Extract it

First, you have to download it from the link below and Extract it with the help of WinRAR (Click Here to Download) software then you get a folder : –

GST Invoice Explain  - GST Invoice Format 3.0| Free Dynamic Excel sheet

GST Invoice Explain 2  - GST Invoice Format 3.0| Free Dynamic Excel sheet

2. Enter Your Organisation details:

Now you have to open the Excel sheet from this folder and enable all the micro or options whatever asked by Microsoft Excel then enter the details asked in the sheet Named: Organisation Details. This information will be asked only one time by software.

your business Details - GST Invoice Format 3.0| Free Dynamic Excel sheet

3. Add Inventories:

Now, you have to create your stock list for easy pop-up items at the time when you will creating/generating Invoice. You can also add any stock item at the time of creating/generating Invoice.

Click on the Button Add New Item then there will pop up a form fill this form and click on Button Add New Item is shown on the form. As shown in the image below.

GST Invoice format 3  - GST Invoice Format 3.0| Free Dynamic Excel sheet

4. Add some Customers:

Now, you have to create your Customer list for easy and speedy invoice generation. You can also add New Customer at the time of creating/generating Invoice.

Click on the Button Add Customer then there will pop up a form fill this form and click on Button Add New Customer to Database is shown on the form. As shown in the image below.

GST Invoice format 4  - GST Invoice Format 3.0| Free Dynamic Excel sheet

5. Create Invoice:

Now, Goto sheet Create Invoice and select customer with the help of two options explained as the below:

Create Invoice  - GST Invoice Format 3.0| Free Dynamic Excel sheet
Create Invoice – GST Invoice Format
1. Search Customer:

 If you have already added the customer in the database then select it with the help of search customer and insert it into an invoice. and with the help of the second option, You will redirect to Form of Add new Customer.

Select Customer GST Invoice Format - GST Invoice Format 3.0| Free Dynamic Excel sheet
Select Customer – GST Invoice Format
2. Add Customer:

This option is the same as the option explained in Customer Page.

Then enter shipping address if different from the billing address.

Then decide your invoice No. format only One time then it will automatically get increment to next no.

like: if you decide 10001 then, when you save invoice it will automatically change to 10002. Special characters (|\/!@#$%^&*()) are not allowed in Invoice.

then Today date will show automatic but you can change the date of invoice if you want to but you can only change the date up to the date of your last invoice.

Now, select the items to be billed. The process is the same as the selection of the customer. Here is also available two option for search from old items and add new items if needed.

Now, Select Quantity and Discount(if applicable) only for each selected item then click on Save & view Invoice.

You will get all three saved copies of invoices and print it if needed. 

6. In the last Sheet:

you will get all your sale of the Day, Month, Quarter, Semester and Year by the applying filter on it for your GST Returns. 

GST Invoice format 7  - GST Invoice Format 3.0| Free Dynamic Excel sheet

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Place of Supply of Services under GST

Place of Supply -min

As to continuity of Place of supply of Goods now we will discuss Place of Supply of Services under GST because GST is destination-based Tax system it means GST is to be collected by the state where actual services are consumed.

In this chapter we will cover the following topics: –

  1. Place of Supply of Goods 
    1. Supply within India
      1.  Place of Supply of goods in cases where goods are moved?
      2. Where are the goods not moved?
      3. Supply of goods on Conveyance?
      4. Is supply other than above? 
    2. Supply of Goods Outside India
  2. Place of Supply of Services
    1. Supply within India
      1. Place of Supply of Services under GST to Registered Person
      2. Place of Supply of Services under GST to un-registered Person
    2. Supply of Services Outside India 
  3. Special Provision for the supply of online information or database.

2. Place of Supply of Services

The place of supply of services is determined on the basis of the geographical location. it means it can be further divided into the following two categories, which are explained as under: –

  1. Supply within India: –

If goods are supplied within India then it can be divided further into the following subcategories shown as under: –

A) Supply to Registered Person: –

IGST Act provides the provision under section 12(2)(a) that the place of supply of services made to the registered person than of the place of supply of services shall be the place of such person. But the place of supply for some services is determined by IGST Law which is mention in section 12(3) to 12(14) of IGST Act. Details of these subsections are in Table below: –

B) Supply to unregistered Person: –

If the supply of services made to the unregistered person, then the Place of supply is the address of the recipient which was recorded in the record of the supplier of services. In all other cases, It will be the Place of the supplier of services.

Section/ Sub Section Services Place of Supply of Services
12(1)
&
12 (2)
All services which are not covered in Subsection 3 to 12 As explained above in two points
12 (3) Directly in relation to immovable property like architecture, construction, accommodation, event etc. The location of such immovable property
12 (4) Restaurants, catering, grooming health services including cosmetic and plastic surgery Place where such services are actually performed
12 (5) Training and performance appraisals Registered recipient – Place of the recipient.
Unregistered Recipient – where the Services are actually performed
12 (6) Admission to the cultural, artistic event, amusement park etc. Place where such an event is held or where such park is located
12 (7) Organizing of cultural, entertainment, conferences, Trade fairs etc. B2B – Place of Recipient

B2C – where the event actually held

12 (8) Transportation of Goods including mail or courier B2B – Place of Recipient
B2C – where goods are handed over to Transporter
12 (9) Transportation of Passengers B2B – Place of Recipient
B2C – Place where Passenger embarks on the conveyance of the continuous journey.
But Return journey shall be treated as a separate journey.
12 (10) Services onboard a conveyance Frist Scheduled point of departure of that conveyance
For Example –
M/s Kingfisher airline hires a doctor for the passengers travelling from Delhi to Mumbai. In such a case although the services by a doctor have been provided onboard the place of supply shall be Delhi
12 (11) Telecommunication Services
  • Fixed telecommunication lines
  • Mobile connection for telecommunication
  • Mobile connection for telecommunication, internet, DTH T.V. on the prepayment basis
  • Other Cases
  • Location of telecommunication line
  • Location of the billing address of the recipient
  • Address of the selling agent or where pre-Payment is received
  • Address of the recipient as per records
12 (12) Banking and Financial Services (Including stock Broking) Location of the recipient of the services else location of the supplier.
12 (13) Insurance Services B2B – Place of Recipient
B2C – Location of the recipient of records of the supplier
12 (14) Advertisement services to Government Location of the state of advertisement

Note: –

  • B2B – Business to Business
  • B2C – Business to Customer 

2. Place of Supply of Services Outside India:

          Place of supply of services is the location of the recipient of the services if the place of the recipient is not available than the place of the supplier will be the place of the Supply of Services.

3. Special Provision for the supply of online information or database.

As per Section 2(17) of the IGST ACT, “Online information and database access or retrieval services mean services whose delivery is mediated by information technology over the internet or an electronic network and the nature of which renders their supply essentially automated and involving minimal human intervention and impossible to ensure in the absence of information technology “.

Place of Supply of Goods under GST

Place of Supply -min

Place of Supply under GST Act is very crucial concept because the GST is charged on basis of Place of Supply of goods or Services. Under GST law Tax is payable where goods or services are consumed.

For Example: – if the place of supply of goods or service is located in same State/UT then SGST/UTGST and CGST will be charged.

if the place of supply of goods or services is located in another State/UT then only IGST will be charged.

So, Place of supply is the base which determines the type of GST will be levied (CGST, SGST/UTGST or IGST). GST is Destination base tax. So, in order to determine the destination of consumption of goods & services, Place of supply has to determine.

  In this chapter we will cover following topics: –

    1. Place of Supply of Goods

         1. Supply within India

               1.Place of Supply in cases where goods are moved?

               2. Where are goods not moved?

               3. Supply of Goods on Conveyance?

               4. Supply other than above?       

          2. Supply Outside India 

      2. Place of Supply of Services

      3. Special Provision for supply of online information or database.

1. Place of Supply of Goods

     1. Supply within India

             1. Place of Supply in cases where goods are moved?

           POS shall be the place where movement of goods terminates, it means the last destination of goods where actually goods will have consumed.

We will further explain with following illustrations: –

Illustrations 1.

Mrs Radhika for Hoshiarpur, Punjab sell 10 Pcs of dresses to Mr Rahul from Jalandhar, Punjab

 In that case, Place of supply is Jalandhar, Punjab. It is within the same state (Punjab) so, CGST & SGST will be charged.

As we explained earlier this is Intra-state supply.

Illustrations 2.

If Mrs Radhika for Hoshiarpur, Punjab sell 10 Pcs of dresses to Mr Joy from Patna, Bihar.

In that case, Place of supply is Patna, Bihar. It is outside state (Punjab) so, IGST will be charged.

As we explained earlier this is Inter-state supply.

Illustrations 3.

Mrs Aman for Hoshiarpur, Punjab sell 10 Pcs of handmade antiques to Mr Sahib from Noida, Haryana and Mr Sahib request to Mrs Aman that to send goods to Mr Pawan form Jalandhar, Punjab

 In that case, it will be assumed that the buyer from Noida has received the goods and So, POS is Noida, Haryana. It is outside state (Punjab) so, IGST will be charged.

 This case is similar to E-commerce sale i.e. gifting to someone from an online shop like Amazon, PayTM and Flipkart etc.

Illustrations 4.

Mr Sarb from Hoshiarpur, Punjab sell 10 Pcs of handmade antiques to Mr Abhi from Faridabad, Haryana and Mr Abhi request to Supplier that he will arrange his own transportation and takes goods from Ex-factory.

 In that case, it Supplier will deliver goods to the buyer at their Place Hoshiarpur, Punjab So, Place of supply is Hoshiarpur, Punjab. It is within the state (Punjab) so, CGST & SGST will be charged.

2. Where are goods not moved?

      The goods which are not moved from one place to another like sell Studio setup installed in building the building.

 Illustrations 1.

M/s Happy Movement Studio from Hoshiarpur, Punjab want to open their branch at Gagret, Himachal and they purchased old studio with the whole setup.

             In that case, there is no movement of goods so, Place of supply is a place of goods at the time of delivery. Place of supply is Gagret, Himachal. It is within the state (Punjab) so, CGST & SGST will be charged.

 Illustrations 2.

M/s Happy Movement Studio from Hoshiarpur, Punjab want to open their branch at Parwanoo, Himachal and they ask M/s Studio Maker Ltd. From Kalka, Haryana

                    In that case, there is no movement of goods Because of M/s Studio Maker Ltd. From Kalka, Haryana will build a studio site, Place of supply is a place of the site where they did work. So, Place of supply is Parwanoo, Himachal. It is within the state (Punjab) so, CGST & SGST will be charged.

Note: – M/s Studio Maker Ltd. has to get GSTIN from Parwanoo, Himachal. They can opt register as a casual taxable person. 

3. Supply of Goods on Conveyance?

      In case of travelling by plane or train, the POS is the place from where food loaded in the plane or train.

 Illustrations 1.

Mr Arun travels from Chandigarh to Delhi by plane and he purchases a cold drink while on the plane.

Because plane takes off from Chandigarh So, it was loaded from Chandigarh so POS is Chandigarh. The airline will charge UTGST and CGST on it because in most of the cases all airlines have a pan-India presence and will be registered in all states

    4. Supply other than above

          If the POS cannot be determined by above-prescribed manner then it shall be determined in the manner prescribed by Central Government on the recommendation of GST Council.

 2. Supply Outside India

In the case of Import into India, the place of supply is the location of importer where goods are received.

On Import into India IGST will be charged under GST Law

In the case of Export from India, the POS is a location outside India.

Export from India is fully exempted under GST Law

Time of Supply under GST

Time of Supply under GST-min

Time of Supply

To know the due date of payment of the liability of CGST, SGST/UTGST and IGST under GST Law, Frist we have to determine Time of Supply. The GST Law has provided a separate provision to determine the time of supply of goods and services. Section 12,13 & 14 of the CGST Act, 2017 deal with the time of supply of goods and time of supply of services.

1. How to determine the TOS of goods.

Time of supply of goods determined by the following event: –

Earliest of the following: –

  1. Date of issue of the invoice by the supplier. (If the invoice is not issued, then the last date on which the supplier is legally bound to issue the invoice with respect to the supply).

OR

  1. The date on which the supplier receives the payment: –
  1. The date of the supplier records the payment in his books

OR

  1. The date on which the payment credited to his bank account.

Example:-

  1. Date of issue of an invoice is 21/02/2018
  2. Date of receipt of payment in bank account 15/01/2018
  3. Date of records the payment in the books of supplier 16/01/2018

Time of Supply will be whichever earliest 15/01/2018 

2. How to determine the TOS of Services.

 Earliest of the following dates:

The Date of issue of the invoice by the supplier (If the invoice is issued within the legally prescribed period under section 31(2) of the CGST Act) or the date of receipt of payment, whichever is earlier?

OR

The Date of the provision of service (If the invoice is not issued within the legally prescribed period under section 31(2) of the CGST Act) or the date of receipt of payment, whichever is earlier?

OR

The date on which the recipient shows the receipt of service in his books of account, in case the aforesaid two provisions do not apply

3. If the payment made in excess of invoice value?

If payment made against an invoice is excess from invoice value up to Rs. 1,000/- than supplier can pay tax on excess payment when the next invoice will be generated for the same party.

For example: –

If Firm “AB Co.” make payment of Rs. 5,000/- on 09/01/2018 to a firm “BC Co.” and “BC Co” supply goods on 21/01/2018 to “AB Co.” and generate the invoice for Rs. 4,400/-. Then the Time of supply of goods is 09/01/2018. The date of the invoice of the next supply to “AB Co.” is 12/02/2018, then the supplier has the option to treat the time of supply of balance amount either 09/01/18 or 12/02/2018. 

4. How to determine the TOS of goods when the tax is to be paid on reverse charge basis?

Whichever is the earliest form following:-

  1. The date of receipt of goods.

OR

  1. The date on which the recipient recorded the payment in his books.

OR

      The date on which the payment debited from his bank account.

OR

  1. The date immediately following 30 days from the date of issue of the invoice. or any other legal document in lieu of invoice by the supplier.

 If we cannot determine the time of supply in an aforesaid manner, then the time of supply will be the date of record of a transaction in the books of accounts of the recipient. 

5. How to determine the TOS of services when the tax is to be paid on reverse charge basis? 

Whichever is the earliest form following:-

  1. The date on which the recipient recorded the payment in his books.

OR

      The date on which the payment debited from his bank account.

OR

  1. The date immediately following 60 days from the date of issue of the invoice or any other legal document in lieu of invoice by the supplier.

If we cannot determine the TOS in an aforesaid manner, then the time of supply will be the date of record of the transaction in the books of accounts of the recipient. 

6. TOS of goods or services related to an addition to the value of supply by way of interest, late fees or penalty.

     TOS of goods or services related to an addition to the value of supply by way of interest, late fees or penalty will be the date on which supplier receives that additional amount.

E–Way Bill under GST

E – Way Bill Under GST-min

E–Way Bill is as electronically generated the document which is required for transportation of goods from one place to another (whether it is inter-state or intra-state) if the value of goods more than Rs. 50,000/-.

Under GST, transporters should carry an E-Way Bill when moving goods from one place to another when certain conditions are satisfied. In this article, we cover the following topics:

  1. Important Point
  2. When E–Way Bill Needed to generate?
  3. What is supply under E–Way Bill?
  4. Who needs to generate an E–Way Bill?
  5. When E-Way Bill is not required
  6. The validity of e-Way Bill

 

 

Important Point: –

  • It is the mandatory document from 01/02/2018 for movement of goods from one place to another.
  • If transporter carrying multiple consignments then he needs to generate a consolidated E–Way Bill for all.
  • If In any case, the transporter needs to transferred goods from one vehicle to another, then he has to generate a new E–Way Bill for a new vehicle.
  • E–Way Bill can be generated and cancelled from GST Portal, app and by SMS.
  • When an E–Way Bill is generated a unique E–Way Bill number (EBN) is allocated and is available to the supplier, recipient, and the transporter
  • For certain specified Goods, the E–Way Bill needs to be generated mandatorily even if the Value of the consignment of Goods is less than Rs. 50,000:
    1. Inter-State movement of Goods by the Principal to the Job-worker
    2. Inter-State Transport of Handicraft goods by a dealer exempted from GST registration

Latest Update

As per Official Notification-11/2018 dated 2nd February 2018: Mandatory Implementation of e-Way Bill is now cancelled from 1st February 2018.

When E–Way Bill Needed to generate?

E way Bill when required - E–Way Bill under GST
E-way-Bill-when-required

When the value of goods more than 50,000/-(either single invoice value is 50,000/- or consolidate of all invoices value which is carrying one vehicle/conveyance)

  • If goods are transferred in relation to a supply (i.e. sale of goods)
  • If goods are transferred for a reason other than supply (i.e. Sale Return/Branch transfer)
  • If goods are supplied by an unregistered dealer to registered dealer.

What is supply under E–Way Bill?

  • Sale – Means transferred goods for some consideration (Payment)
  • Transfer – if goods transferred from head office to branch
  • Exchange/Barter – if goods transferred against consideration of other goods from the recipient.

Who needs to generate an E–Way Bill?

E way generator chart - E–Way Bill under GST
E–Way Bill generator chart

  • Registered Person – E-way bill must be generated when there is a movement of goods of more than Rs 50,000 in value to or from a Registered Person. A Registered person or the transporter may choose to generate and carry e-way bill even if the value of goods is less than Rs 50,000.
  • Unregistered Persons – Unregistered persons are also required to generate e-Way Bill. However, where a supply is made by an unregistered person to a registered person, the receiver will have to ensure all the compliances are met as if they were the supplier. 
  • Transporter – Transporters carrying goods by road, air, rail, etc. also need to generate e-Way Bill if the supplier has not generated an e-Way Bill.

Note: –

  • Unregistered Transporters will be issued Transporter ID on enrolling on the e-way bill portal after which e-way bills can be generated.
  • If a transporter is transporting multiple consignments in a single conveyance, they can use the form GST EWB-02 to produce a consolidated e-way bill, by providing the e-way bill numbers of each consignment.
  • Part B of e-Way Bill is not required to be filled where the distance between the consigner or consignee and the transporter is less than 10 Kms and transport is within the same state.

When E-Way Bill is not required

            In following cases, E-way bill is not required to generate: –

  • Goods are moved from the port, airport, air cargo complex for clearance by Customs.
  • The specified goods Transported (PDF of List of Goods).
  • The goods are transported by non-motor vehicle

The validity of e-Way Bill

                The validity of e-way bill depends on distance, which will travel by goods from where E-way bill generated. (either from the supplier or the transporter address).Validity starts from date and time of generation of it.

 

If you have any question about this topic please ask it in the comment section below: –

Thanks

Bill of Supply under GST and Format of BOS

Bill of Supply under GST -min

Bill of Supply under GST: –

Under GST some following business (registered under GST or not) cannot collect tax on the sale of goods form their customers in these type of cases Bill of Supply under GST is generated by a businessman and in these cases if you are registered under the GST act except 1 from following cases you cannot issue GST Invoice: –

  1. If you are a composition dealer under composition scheme.
  2. or Exporter.
  3. or Supplier of Nil-Rated/Exempted Goods.
  4. or Supplier of Non-taxable goods under GST and Non-GST goods and services.

Particulars of Bill of Supply under GST: –

  1. Supplier Name, address and GSTIN (If register)
  2. Buyer Name, Billing address, and Shipping address.
  3. Bill of Supply consecutive number
  4. Date of Issue of BOS
  5. Items Description: –
    1. Name of Items
    2. HSN Code (Required as per Turnover)
    3. Quantity
    4. MOU (Measurement of Units)
    5. Rate per Units
    6. Discount (If any)
  6. Terms and Condition of supply of Goods (If Any): –
  7. Signature or Digital Signature
  • Here is Example of Bill of Supply Under GST

Bill of supply Format Under GST  - Bill of Supply under GST and Format of BOS
Bill of supply

Section wise explanation of Bill of Supply: –

We can divide BOS into 4 section as following

bill of supply explain section wise  - Bill of Supply under GST and Format of BOS
bill of supply explain section wise

  1. Header: –   It includes all information about Supplier i. e. Name, Address, GSTIN, contact number, BOS number and Date of BOS.

    bill of supply explain section wise header - Bill of Supply under GST and Format of BOS
    bill of supply explain section wise – header

  2. Customer Details: –

It includes all information about Customer i.e. Name, Address (Billing as well as Shipping, and contact number.

bill of supply explain section wise Customer Details  - Bill of Supply under GST and Format of BOS
bill of supply explain section wise-Customer Details

  1. Goods Details: –    It includes all the information about goods i.e. Name, HSN Code, Rate, Units, Discount and etc.

    bill of supply explain section wise goods Details  - Bill of Supply under GST and Format of BOS
    bill of supply explain section wise-goods Details

  1. Footer: – It includes all Terms and conditions, a signature of accountant/ authorized Signatory and etc.

Download Excel Sheet of Bill of Supply 

010 document 6 150x150 - Bill of Supply under GST and Format of BOS

Download

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GST Invoice Format In India |Dynamic Excel sheet

GST Invoice Format In India -min

GST Invoice Format In India is so crucial because this document explains the whole transaction between seller and buyer of goods/services and this is the proof of supplies of goods by the supplier (who sell goods) to the buyer.

Definition of invoice by Oxford: –

“A list of goods sent or services provided, with a statement of the sum due for these; a bill.”

 Under GST here a two-type invoice: –

  1. GST Invoice
  2. Bill of Supply

1. GST Invoice Format: –

So, when you are forming your invoice you have to enter the following Details into it: –

1.Bill to

  1. Name
  2. Address (Both Billing as well as shipping)
  3. GST IN (Goods and Services Tax Identification Number)

2. Ship to

If shipping address different from billing address then you have to mention it on invoice rather than it will be same as billing address

3. Supplier Details

  1. Name
  2. Address
  3. GSTIN

4. Invoice Number

5. Invoice Date: – In case the supply of goods date will be that date when an actual supply of goods are made.

6. Items Description: –

  1. Name of Items
  2. HSN Code
  3. Quantity
  4. MOU (Measurement of Units)
  5. Rate per Units
  6. Total Taxable amount

7. Shipping Charges (If any) 

8. GST(Tax) Details: –

  1. Type of Tax
    1. IGST
    2. CGST
    3. SGST/ UTGST
  2. Rate (%) of Tax
  3. Amount of Tax

9. Must Mention the Name of Copy on Invoice: – it has a three type of copies as following

  1. Original Invoice: – It is for the buyer
  2. Duplicate Invoice: – It is for transporter
  3. Triplicate Invoice: – It is for supplier himself

10. Terms and Condition of supply of Goods (If Any): –

11. Signature or Digital Signature

The Format of Invoice under GST: –

It can be different as per your convenience but we have provided you with one simple format in the following an example, you will understand much better format of GST (TAX) Invoice with it: –

gst invoice 1 - GST Invoice Format In India |Dynamic Excel sheet

Download GST offline Invoice Generator software for free 

010 document 6 150x150 - GST Invoice Format In India |Dynamic Excel sheet

Please to this page to know how to run this software?

GST Invoice Format | Download Free Dynamic Excel sheet

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Composition Scheme under GST(Goods and Services Tax)

Composition Scheme under GST-min

Composition scheme under GST(Goods and Services Tax) is a very convenient scheme made for small-scale industries or businesses. In this scheme, the taxpayer has a fixed rate of tax on their aggregate turnover. Any taxpayer can opt this scheme if their aggregate turnover is less than 1.5 Crore or 75 lacs (latest update as per 23RD GST Council meeting held on 10th Nov 2017) in North-Easter states and Himachal Pradesh.

Key feature: –

  • Fixed Rate of Tax on Aggregate Turnover
  • ITC (Input Tax credit) not eligible
  • Only eligible for intra-state supplies
  • The bill of supply is not a tax invoice.
  • Eligibility made on basis of Aggregate supplies
  • Monthly Returns are not required file only Quarterly Returns
  • Not need to maintain records.
  • Single time Tax payment and easy to calculate.
  • Reduce the workload on small business who trying to grow.

You can understand much better in an example given below: –

Composition Scheme 1024x734 - Composition Scheme under GST(Goods and Services Tax)
Example of Composition Scheme under GST

 

GST Percentage to be payable as per your type of business shown under: –

Rate of GST under composition scheme 1024x473 - Composition Scheme under GST(Goods and Services Tax)
The rate of GST under the composition scheme under GST

Who can opt Composition scheme under GST?

      Anyone who can fulfil the following conditions: –

  1. Whose aggregate turnover is less than 1.5 Crore or 75 lacs in North-Easter states and Himachal Pradesh?
  2. Who is dealing with intra-state supplies only?
  3. Who is not supplying your goods through E-Commerce marketplace?
  4. Who is dealing with exempted supplies of goods under GST?
  5. Who is not the Casual taxable person?
  6. Who is not a Non-Resident taxable person?
  7. Who is not dealing with tobacco, pan masala, and ice cream?
  8. All Services provider expect restaurant related services.

Following are some condition which has to fulfil availing composition scheme under GST

All the above requirements are conditions but some more as following: –

  • All business registered with the same PAN are treated as composition supply and total aggregate turnover will be fall within the threshold limit.
  • The taxpayer has to mention “Composite taxable person” on their every bill of supply, notice and signboard place at their business premises.

 

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Exemption from GST Registration | Examples

Exemption from GST Registration-min

In this topic, we will get to know that persons or businesses which have Exemption from GST Registration or which type of businesses are not needed to get registered under GST. In GST registration is based on what is the nature of their supply of goods and services.

The taxpayers who are exempted from GST Registration are:

  1. Agriculturists
  2. Persons falling into Exemption Limit
  3. Persons making supplies of goods and services which are Nil-Rated/ Exempt under the GST Act.
  4. Persons making supplies of goods and services which are not covered under the GST Act.
  5. That Supply of Goods or Services which are not covered by GST
  6. Supplies covered under reverse charge

Now we will explain these in the term with diagrams as follows: –

1. Agriculturists: –

A person who cultivate their land to make supplies of products/goods. Under GST these types of persons have Exemption from GST Registration.

agriculturist - Exemption from GST Registration | Examples
Agriculturists – Exemption from GST Registration

2. Persons falling into Exemption Limit: –

GST has some limit of Exemption from GST Registration for very small businesses like the local General store in a village and etc. Under GST expect some special states Govt. set a limit of aggregate turnover up to 20 Lacs and for special states limit reduced to 10 Lacs as shown under: –

exempted limit under GST - Exemption from GST Registration | Examples
The exempted limit under GST – Exemption from GST Registration

3. Persons making supplies of goods and services which are Nil-Rated/ Exempt under GST Act: –

Under GST some Goods/Services of daily needs have Exemption from GST Registration. The some of these areas following

  1. Health Care
  2. Education
  3. Services by a veterinary clinic in relation to health care of animals or birds
  4. The live animal such as Mammals, Birds, Insects
  5. The meat of bovine animals, fresh and chilled
  6. Onions, shallots, garlic, leeks and other alliaceous vegetables, fresh or chilled.
  7. Unprocessed foods:- Milk, Egg etc.
    basic needs - Exemption from GST Registration | Examples
    Daily Needs – Exemption from GST Registration

So, if you are dealing with this type of goods than you do not need to register under GST.

 

4. Persons making supplies of goods and services which are not covered under the GST Act: 

Under GST some Goods/Services are not covered. It means on these types of goods still old indirect structure is implemented and these type of businesses have Exemption from GST Registration. Some of these areas following

  1. Petroleum Products
  2. Electricity
  3. Alcohol for human consumption
  4. Tabasco etc.

So, if you are dealing with this type of goods than you do not need to register under GST.

5.That Supply of Goods or Services which are not covered under GST: –

There are some of the services that are not covered under the GST because these are cover under some other law or exempted. Some of these areas following

  1. Services by an employee.
  2. Duties of Public elected persons -PM, CM, MP or MLA.
  3. A person who is a member or director of a body.
  4. Services provided at the funeral.
  5. Services Provide by any Court.
  6. Sale of land and building.
  7. Actionable claims.

6.Supplies covered under reverse charge: –

There is provision under the act that if any person supplies taxable goods/services on which tax will be paid by the recipient then he does not need to get registered himself under GST.

 

 

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- Exemption from GST Registration | Examples

Whom to Register under the GST act 2017

Whom to Register under the GST act 2017-min

Now you have to learn Whom to Register under GST(Goods and Services Tax) Act or when your Business need to have registered under GST(Goods and Services Tax) Act: –

if following any condition applicable to your business than you have to register under the GST Act.

  1. If your aggregate turnover in a financial year exceeds Rs 20 Lacs [Rs. 10 Lacs in case of special category States except J & K] show listas under
  2. If your turnover does not include the supply of only those goods/services which are exempt under the GST Act.
  3. If you want to supply your goods through E-Commerce (like Amazon, Flipkart, Snapdeal etc.)
  4. If your business was registered under the Pre-GST law (i.e., Excise, VAT, Service Tax etc.) need to register under GST.
  5. If you drive the inter-state supply of goods.
  6. If you are a Non-Resident taxable person.
  7. If you are a Casual Taxable Person.
  8. If you are Agents of a supplier.
  9. If you are Taxpayers paying tax under reverse charge mechanism.

Note: -Latest Update:

As per 23rd GST Council Meet on 10th November 2017

E-commerce sellers/aggregators need not register if total sales are less than Rs. 20 lakhs. Notification No. 65/2017 – Central Tax dated 15.11.2017

As per 22nd GST Council meeting of 6th October 2017

Service providers providing inter-state services are exempted from registration if their annual turnover is below 20lakhs (10 lakhs for Special states. 20 lakhs for J&K)

Notification No. 7/2017 – Integrated Tax dated 14th September 2017

Job workers making inter-state supply of services to a registered person are exempted from registration if their turnover is below 20lakhs (10 lakhs for Special states)

 What is Aggregate Turnover?

The term ‘aggregate turnover’ has been defined in GST law as under:

“Aggregate turnover” means the aggregate value of all taxable supplies (excluding the value of inward supplies on which tax is payable by a person on a reverse charge basis), exempt supplies, exports of goods or services or both and inter-State supplies of persons having the same Permanent Account Number, to be computed on all India basis but excludes central tax, State tax, Union territory tax, integrated tax and cess.

Special Category States Under GST

Following states are assigned special status under Goods and Services Tax Law:

    1. Arunachal Pradesh
    2. Assam
    3. Jammu & Kashmir
    4. Manipur
    5. Meghalaya
    6. Mizoram
    7. Nagaland
    8. Sikkim
    9. Tripura
    10. Himachal Pradesh
    11. Uttarakhand

What are Exempted Goods and Services?

Article Compiles a list of 149 Type of Goods which are exempt from Tax under GST with respective HSN Code and Description of Goods as per Notification No. 2/2017-Central Tax (Rate) New Delhi, the 28th June 2017

List of Exempted Services under GST- Click to Download

What is E-Commerce?

            E-commerce is buying and selling goods and services over the Internet. E-business is a structure that includes not only those transactions that centre on buying and selling goods and services to generate revenue, but also those transactions that support revenue generation. These activities include generating demand for goods and services, offering sales support and customer service, or facilitating communications between business partners.

What is Pre-GST Law?

Before GST in India here was the number of tax law which are now subsumed into GST. So, if your business is already registered under any old indirect Taxation Like Excise, VAT, Services Tax and etc. before 01/07/201

What is an inter-state supply of goods?

When on business sold their goods to another state this is called the inter-state supply of goods.

Who is a Non-Resident taxable person?

The person who makes the supply of goods or services as a principal, agent and any other capacity in a taxable state or union territory, where GST applies but he doesn’t have a fixed place of business in India or residence in India. As per GST, you will be treated as a Non-Resident taxable person. 

Who is Casual Taxable Person?

The person who makes the supply of goods or services on an occasional basis as a principal, agent and any other capacity in a taxable state or union territory, where GST applies but he doesn’t have a fixed place of Business. As per GST, will be treated as a casual taxable person.

Important Points: –

  • This type of registration valid only for 90 days
  • Expiry of the first 90 days it can be extended to 90 days again.
  • In this type of registration, the taxpayer has to deposit Tax liability in advance and it will be used as ITC
  • if extension made than addition tax liability must be deposited as required in advance again.

 Who is the Agent of a supplier?

The GST Act defines an Agent as a person including a factor, broker, commission agent, del-credere agent, an auctioneer or any other mercantile agent, by whatever name called, who carries on the business of supply or receipt of goods or services or both on behalf of another

If you are Taxpayers paying tax under reverse charge mechanism.

             Reverse Charge means the liability to pay the tax by the person receiving goods and/or services instead of the person supplying the goods and/or services in respect of specified categories of supplies.

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