Read About All The Documents Issued Under GST Regime

Documents Issued Under GST Regime

Under the GST Regime, businesses are required to maintain various accounts and records for ready verification by an authorized GST Authority either in electronic or physical format. There are different kinds of documents that are required to be issued in different circumstances. In this article, let us understand the applicability of these documents, maintenance requirements, and other compliance provisions related to the same.

List Of Topics Covered:

INVOICE​

Time Of Issue Of Invoice

Particulars Issue of Invoice in case of Supply of Goods Issue of Invoice in case of Supply of Services
Normal Case Sec 31(1) – On or before
  • If movement involved at the time of removal
  • In another case – At the time of delivery or made available
Sec 31(2) – On or before · Provision of services (within 30 days from completion)
  • Bank/FI/NBFC/Insurer (within 45 days from Completion)
  • An insurer /banking company/financial institution/non-banking financial company/ telecom operator/ any other class of supplier of services notified by the Government making taxable supplies of services between distinct persons as specified in section 25 (may issue the invoice before or at the time such supplier records the same in his books of account or before the expiry of the quarter during which the supply was made)
Continuous Supply Sec 31(4) – the invoice shall be issued before or at the time
  • Each such statement is issued or
  • Each such payment is received.
Sec 31(5) – On or before
  • Due date ascertainable in contract on such date
  • If due date not ascertainable – date of payment received
  • If events are fixed in the contract – The last date of completion of such event
Supply on sale or return/approval basis Sec 31(7) –
  • Before/at the time of supply (i.e. approval given by recipient)
  • 6 months from the date of removal
whichever is earlier
Cessation of supply of services Section 31(6) – In a case where the supply of services ceases under a contract before the completion of the supply, the invoice shall be issued at the time when the supply ceases and such invoice shall be issued to the extent of the supply made before such cessation.

Consolidated Tax Invoice

Where the value of the goods or services or both supplied is less than Rs. 200:

→ As per sec 31(3)(b) of the CGST Act, a registered person may not issue a tax invoice if the value of the goods or services or both supplied is less than Rs. 200 subject to such conditions and in such manner as may be prescribed.

As per proviso to rule 46 of CGST Rules,
→ A registered person other than the supplier engaged in making the supply of services by way of admission to the exhibition of cinematograph films in multiplex screens may not issue a tax invoice in accordance with the provisions of Section 31(3)(b) subject to the following conditions, namely:

  • The recipient is not a registered person and
  • The recipient does not require such invoice

→ The signature or digital signature of the supplier or his authorized representative shall not be required in the case of issuance of an electronic invoice in accordance with the provisions of the Information Technology Act, 2000 (N/N 74/2018-CT dated 31/12/2018)
→ The Tax Invoice shall have a quick response (QR) code.

Revised Invoice

Sec 31(3)(a)(i)

  • A person shall issue a revised invoice during the period beginning with the effective date of registration till the date of issuance of certificates of registration to him.
  • It shall be issued within 1 month from the date of issuance of certificates of registration and in such a manner as prescribed.
  • The expression “Tax Invoice” shall include any revised invoice issued by the supplier in respect of the supply made earlier.

Consolidated revised tax invoice:
A registered person may issue a consolidated revised tax invoice

  • In respect of all taxable supplies made to a recipient who is not registered under the Act during such period
  • In the case of inter-State supplies, where the value of a supply does not exceed Rs. 2.5 lakhs to unregistered person

Bill Of Supply

Section 31(3)(c):

  • On Supply of Exempt Goods or Services
  • Paying tax under Composition Scheme

Rule 49:
→ The provisos to rule 46 shall, mutatis mutandis, apply to the bill of supply issued under this rule.
→ Any tax invoice or any other similar document issued under any other Act for the time being in force in respect of any non-taxable supply shall be treated as a bill of supply for the purposes of the Act.
→ The signature or digital signature of the supplier or his authorized representative shall not be required in the case of issuance of an electronic bill of supply in accordance with the provisions of the Information Technology Act, 2000 (N/N 74/2018-CT dated 31/12/2018)
→ The Bill of Supply shall have a quick response (QR) code.

Endorsement For Export Invoice

In the case of the export of goods or services, the invoice shall carry an endorsement:

“Supply Meant For Export/Supply To SEZ Unit Or SEZ Developer For Authorized Operations On Payment of Integrated Tax”
or
“Supply Meant For Export/Supply To SEZ Unit Or SEZ Developer For Authorized Operations Under Bond Or Letter Of Undertaking Without Payment of Integrated Tax”

As the case may be, and shall, also contain the following details, namely

  • Name and address of the recipient
  • Address of delivery
  • Name of the country of destination

Invoice-cum-bill Of Supply

Where a registered person is supplying taxable as well as exempted goods or services or both to an unregistered person, a single “Invoice-cum-bill of supply” may be issued for all such supplies.

Contents Of Tax Invoice

Here is a comparative table for the same:
Particulars

Normal Tax Invoice

Revised Tax Invoice

Bill of Supply

Name, address &  GSTIN

Consecutive Number Series

Date of Issue

Name & address & GSTIN/UIN of Recipient

Other details of the unregistered recipient

HSN Code

Description of goods/services

Quantity of goods

Total Value

Taxable Value

Rate of Tax

Amount of tax charged

Place of supply

Address of delivery

If reverse charge applicable

Signature/ Digital Signature

Nature of Document

Sr. No. & date of tax invoice or bill of supply

NOTE:
  • The consecutive serial number shall not exceed 16 characters for tax Invoice in one/multiple series shall be maintained the same for a financial year.
  • A consolidated revised tax invoice for all taxable supplies made to an unregistered person.
  • In the case of inter-state supply – where the value of a supply does not exceed Rs. 2.5 lakhs, a consolidated revised tax invoice may be issued separately in respect of all unregistered recipient located in a state.

HSN Code In Invoice

Registered Person having an annual turnover in Previous F.Y. shall mention the HSN Code as following:
Sr. No. Annual Turnover in Preceding Financial Year Number of Digits of HSN Code
i Up to 1.5 crores NIL
ii More than 1.5 crores and up to 5 crores 2
iii More than 5 crores 4
These provisions are also applicable to Bill of Supply.

Manner Of Issuing Tax Invoice

In the case of taxable supply of Goods In the case of taxable supply of Services
Invoice to be prepared in Triplicate. Invoice to be prepared in Duplicate.
  • Original Copy for Recipient
  • Duplicate Copy for Transporter
  •  Triplicate Copy for Supplier
  • Original Copy for Recipient
  • Duplicate Copy for Supplier
The serial number of invoices issued during a tax period shall be furnished electronically through the common portal in Form GSTR-1.

Delivery Challan / Invoice For Transportation Of Goods

Nature of Supply Delivery Challan to be issued Particulars of Delivery Challan (Rule 55 challan)
  • Supply of liquid gas where the quantity at the time of removal from the place of business of the supplier is not known
  • Transportation of goods for job work
  • Transportation of goods for reasons other than by way of supply
  • Such other supplies as may be notified by the Board
  • Serially numbered not exceeding 16 characters
  • In one or multiple series
  • At the time of removal of goods for transportation
Date and number of the delivery challan
Name, address and GSTIN of the consigner, if registered
Name, address and GSTIN or UIN of the consignee, if registered
HSN code and description of goods,
Quantity (provisional, where the exact quantity being supplied is not known)
Taxable value
Tax Rate & Tax Amount – CGST, SGST, IGST, UTGST, Cess where the transportation is for supply to the consignee
Place of supply in case of inter-state movement
Signature
Rule 55A: Tax Invoice or bill of supply to accompany the transport of goods The person-in-charge of the conveyance shall carry a copy of the tax invoice or the bill of supply issued in accordance with the provisions of rules 46, 46A, or 49 in a case where such person is not required to carry an e-way bill under these rules.

Tax Invoices In Special Cases

  • Insurer/ Banking Company/ Financial Institution (including NBFC)
Optional Information Mandatory Information
  • Serial Number
  • Address of the Recipient
  • Other information prescribed for a tax invoice in Rule 46
  • May be made available physically/ electronically
The supplier may issue a consolidated tax invoice for the supply of services made during a month at the month-end.
Due to volume, taxpayers need not mention the address of the customer and the serial number in their invoices. Signature/ Digital Signature not mandatory for the consolidated tax invoices.
  • Goods Transport Agency (GTA) supplying services in relation to transportation of goods by road in a goods carriage
Optional Information Mandatory Information

  • The gross weight of the consignment
  • Name of the Consigner and Consignee
  • Registration number of goods carriage in which goods are transported
  • Details of goods transported
  • Details of place of origin and destination
  • GSTIN of a person liable for paying tax, whether as consigner, consignee or GTA
  • Other information prescribed for a tax invoice in Rule 46
  • Supplier of passenger transportation service
Optional Information Mandatory Information
  • Serial Number
  • Address of the Recipient
  • Other information prescribed for a tax invoice in Rule 46
  • The tax invoice shall include tickets in any form.
Due to volume, taxpayers need not mention the address of the customer and the serial number in their invoices. Signature/ Digital Signature not mandatory for the consolidated tax invoices.
  • Admission to Exhibition of cinematograph films in multiplex screens
Optional Information Mandatory Information

  • Other information prescribed for a tax invoice in Rule 46
  • Shall issue Electronic ticket and Electronic ticket shall be deemed to be Tax Invoice, even such a ticket does not contain Recipient details.
Provided that the supplier of such service in a screen other than multiplex screens may, at his option, follow the above procedure (N/N 33/2019 CT dated 18/07/2019).

Tax Invoice Input Service Distributor

As per Rule 54, an Input Service Distributor invoice or, as the case may be, an Input Service Distributor credit note issued by an Input Service Distributor shall contain the following details:

  • Name, address, and Goods and Services Tax Identification Number of the Input Service Distributor
  • 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- “-”, “/” respectively, and any combination thereof, unique for a financial year
  • Date of its issue
  • Name, address, and Goods and Services Tax Identification Number of the recipient to whom the credit is distributed
  • Amount of the credit distributed
  • A signature or digital signature of the Input Service Distributor or his authorized representative.

Where the Input Service Distributor is an office of a banking company or a financial institution, including a non-banking financial company, a tax invoice shall include any document in lieu thereof, whether or not serially numbered but containing the information as mentioned above.

  1. Receipt Voucher

[Sec 31(3)(d) & Rule 50]

A registered person shall, on receipt of advance payment with respect to any supply of goods or services or both, issue a Receipt Voucher evidencing receipt of such payment.

If at the time of receipt of the advance, rate of tax or nature of supply is not determinable:

If Rate of tax is not determinable

Tax shall be @18%

If Nature of Supply is not determinable

Shall be treated as Inter-State supply

2. Refund Voucher

[Sec 31(3)(e) & Rule 51]

Where on receipt of advance payment with respect to any supply of goods or services or both, the registered person issues a Receipt Voucher, but subsequently:

  • No supply is made and
  • No tax invoice is issued in pursuance thereof

The said registered person may issue to the person who has made the payment, a Refund Voucher against such payment.

3. Payment Challan

[Sec 31(3)(f)/(g) & Rule 46 & 52]

A registered person who is liable to pay tax under reverse charge (under Section 9(3)/ 9(4) of the CGST Act) shall issue an Invoice in respect of goods or services or both received by him from the supplier who is not registered on the date of receipt of goods or services or both. Thus, a recipient liable to pay tax by virtue of Section 9(3) has to issue an invoice only when supplies have been received from an unregistered supplier.

Besides, a registered person who is liable to pay tax under reverse charge (under Section 9(3) / 9(4) of the CGST Act) shall issue a Payment Voucher at the time of making payment to the supplier.

4. Content of Vouchers

Particulars

Receipt Voucher

Refund Voucher

Payment Voucher

Name, address &  GSTIN

Consecutive Number Series

Date of Issue

Name & address & GSTIN/UIN of Recipient

Number & Date of Receipt Voucher issued

Description of goods/services

Amount of Advance taken

Amount of Refund made

Amount paid

Rate of tax

Amount of tax charged

Place of supply

If reverse charge applicable

Signature/ Digital Signature

Signature of Supplier

 

a) General Provisions

Credit Notes [Sec.34 (1)]Debit Notes [Sec. 34(3)]
  • One or more tax invoice for taxable value or tax charged in that tax invoice is found to exceed the taxable value or tax payable in respect of such supply or
  • Where the goods supplied are returned by the recipient or
  • Where goods supplied are found to be deficient

Time Limit:

Details of Credit in the return for the month during which such credit note has been issued, but no later than:

  • September following the end of FY in which such supply was made or
  • The date of filing of the relevant annual return

Whichever is earlier.

  • One or more tax invoice for taxable value or tax charged in that tax invoice is found to be less than the taxable value or tax payable in respect of such supply

Note: Debit note includes Supplementary Invoice.

Time Limit:

Details of Debit in the return for the month during which such debit note has been issued.

b) Particulars

Section 34, Rule 53(1A) with N/N 3/2019-CT dated 29/01/2019

  • Name, address, and GSTIN of supplier
  • Nature of the document
  • 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- “-”, “/” respectively, and any combination thereof, unique for a financial year
  • date of issue of the document
  • name, address and GSTIN/UIN of the recipient, if registered
  • name and address of the recipient and the address of the delivery along with the name of State and its code, if such recipient is un-registered
  • serial number and date of corresponding tax invoice/ bill of supply
  • value of taxable supply of goods or services, rate of tax and the amount of tax credited/ debited to the recipient
  • A signature or digital signature of the supplier or his authorized representative.

→ Unregistered Person: A person who is not registered shall not collect in respect of any goods/ services/ both any amount by way of tax under this Act.
→ Registered Person: No Registered Person shall collect tax except in provisions of this Act or Rules made thereunder.

Notwithstanding anything, when supply is made for consideration, every person who is liable to pay tax for such supply shall prominently indicate in all documents waiting to assessment, tax invoice etc. the amount of tax which shall form a part of price.

a) General Provisions

Applicability Every registered person
Location At the principal place of business, as mentioned in the certificate of registration. In the case of more than one place of business, the accounts relating to each place of business shall be kept at such places of business.
Electronic Form Shall also keep in electronic form authenticated by means of a digital signature.

b) Records to be kept

Records to be kept (Sec. 35) The registered person shall be kept and maintain, a true and correct account of:
  • Production or manufacture of goods
  • Inward and outward supply of goods or services or both
  • Stock of goods
  • Input tax credit availed
  • Output tax payable and paid
  • Such other prescribed particulars
c) Period of Retention
Situation Time Limit
If a registered person is a party to:
  • Appeal
  • Revision
  • Any other proceedings before any Appellate Authority or Revisional Authority or Appellate Tribunal or Court
  • Is under investigation for an offense
Shall retain the books of account and other records pertaining to the subject matter: → for a period of 1 year after final disposal of such matter or → for 72 months Whichever is later.

d) Additional Records

Records to be maintained (Rule 56) In addition to the particulars mentioned in Section 35(1), Every registered person shall keep and maintain a True and Correct account of the following:
  • Advance received
  • Imports & Exports
  • Sock Details
  • Tax Collection & Remittance
  • Other Particulars
Persons covered for mandatory maintenance of records and special cases
Persons covered for mandatory maintenance of records Following person shall mandatorily maintain records of consigner, consignee and other prescribed details:
  • Every owner or operator of warehouse or godown or any other place used for storage of goods and
  • Every transporter
  • Records to be maintained:
  • Persons engaged in the business of transporting goods: Records of goods transported, delivered, and goods stored in transit by him along with GSTIN of the registered consigner and consignee for each of his branches.
  • Owner/ Operator of a Warehouse/ Godown: Books of accounts with respect to the period for which particular goods remain in the warehouse, including the particulars relating to dispatch, movement, receipt, and disposal of such goods.
Records to be maintained by manufacturers
  • Monthly production accounts, showing the quantitative details of raw materials services used in the manufacture
  • Quantitative details of the goods so manufactured including the waste and by-product thereof
Records to be maintained by the supplier of services
  • The quantitative details of goods used in the provision of services
  • Details of input services utilized
  • Details of services supplied
Records to be maintained by persons executing works contract Persons executing works contract shall keep separate accounts for each works contract showing:
  • The names & addresses of the persons on whose behalf the work contract is executed
  • Description, value, and quantity of goods/ services received, utilized for the execution of works contract
  • The details of payment received in respect of each works contract
  • The names and addresses of suppliers from whom goods/services received
Records to be maintained by clearing freight forwarder The person shall maintain true and correct records in respect of goods handled by him on behalf of such registered person and shall produce the details thereof as and when required by the proper officer.
Records to be maintained by Agent To maintain accounts depicting the:
  • Particulars of authorization received by him from each principal to receive or supply goods or services on behalf of such principal separately
  • Particulars including description, value, and quantity of goods or services received supplied on behalf of every principal
  • Details on accounts furnished to every principal
  • Tax paid on receipts or on the supply of goods or services effected on behalf of every principal.
Records to be maintained by owner or operator of godown or warehouse and transporters Every owner or operator of warehouse or godown or any other place used for storage of goods and every transporter, irrespective of whether he is a registered person or not, shall maintain records of the consigner, consignee, and other relevant details of the goods in such manner as may be prescribed. Registration: If such persons are not already registered, they shall obtain a unique enrollment number by applying electronically at the GST Common Portal. The person so enrolled in any other State or Union territory shall be deemed to be enrolled in the State or Union territory. Such a person may also amend the details furnished in the prescribed form. Records to be maintained by a transporter: Records of goods transported, delivered, and goods stored in transit by him along with GSTIN of the registered consigner and consignee for each of his branches. Records to be maintained by an owner/operator of a warehouse/ godown: Books of accounts with respect to the period for which particular goods remain in the warehouse, including the particulars relating to dispatch, movement, receipt, and disposal of such goods. The owner or the operator of the godown shall store the goods in such a manner that they can be identified item-wise and owner-wise and shall facilitate any physical verification or inspection by the proper officer on demand. For the purposes of E-Way Bill rules, a transporter who is registered in more than one State or Union Territory having the same PA, he may apply for a unique common enrolment number by submitting the details in FORM GST ENR-02 using any one of his Goods and Services Tax Identification Numbers, and upon validation of the details furnished, a unique common enrolment number shall be generated and communicated to the said transporter: Provided that where the said transporter has obtained a unique common enrolment number, he shall not be eligible to use any of the Goods and Services Tax Identification Numbers for the purposes of the said E-way Bill Rules. [N/N 28/2018 CT dated 19/06/2018]

f) Failure to Account for Goods or Services

The proper officer shall determine the tax payable on the goods or services or both that are not accounted for. Also, Provisions regarding the determination of tax not paid or short paid due to Fraud or other reasons shall be equally applied for determination of such tax.

g) Audit Requirement

Every registered person whose aggregate turnover during a financial year exceeds the Rs. 2 Cr. must get his account audited by a Chartered accountant or a cost accountant. He shall submit a copy of the
  • Audited Annual accounts
  • A Reconciliation statement u/s 44(2) [to reconcile the value of supplies declared in the return with the audited annual financial statements]
  • Such other documents as may be prescribed

h) Records not to be maintained by supplier opting for Composition Levy

  • The stock of Goods: Accounts of stock in respect of goods received and supplied by him, and such accounts shall contain particulars of the opening balance, receipt, supply, goods lost, stolen, destroyed, written off or disposed of by way of gift or free sample and the balance of stock including raw materials, finished goods, scrap and wastage thereof.
  • Details of Tax: Account, containing the details of tax payable (including tax payable under reverse charge), tax collected and paid, input tax, input tax credit claimed, together with a register of tax invoice, credit notes, debit notes, delivery challan issued or received during any tax period.
  • Circular No. 92/11/2019-GST dated 07/03/2019

Taxable Persons offering various promotional schemes to increase sales volume and to attract new customers for their products

That whether credit notes(s) under section 34(1) of the CGST Act can be issued in such cases even if the conditions laid down in section 15(3)(b) of the CGST Act are not satisfied.

Financial/ Commercial credit notes can be issued by the supplier even if the conditions mentioned in section 15(3)(b) of the CGST Act are not satisfied.

In other words, credit note(s) can be issued as a commercial transaction between the two contracting parties.

Some advance rulings in relation to the same have been summarized below:

Sr. No.Advance Ruling Order No.Brief facts & ruling

1

Ruling No KAR/ARDG 7/2019 dated 24/09/2019 Karnataka Authority for Advance Ruling

Facts: Whether the volume discount received on purchases and sales is liable for GST? If yes, under which HSN/SAC? Whether the Applicant has to issue a taxable invoice to this effect?

Ruling: Volume discount received on purchases and sales through credit note without any adjustment of GST is not liable for GST. Further, since amount received in the form of credit note is actually a discount and not a supply by Applicant to Authorized supplier, the Applicant need not issue tax invoice for this transaction.

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