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GST invoiceEffective July 1, 2017, the Indian government is moving towards the Goods and Services Tax (GST) regime, which would substantially transform the current Indirect Tax landscape. GST is the single biggest tax reform in the country and a lot of progress has been made in the last few months on the GST front.

What needs to be included to avail / claim input tax credit?
GST law has mandated certain details which need to be inscribed on the GST invoice. Therefore, please make sure that the following details are inscribed on your invoice:

  • Your GSTIN
  • Your Address
  • Date of issue of invoice
  • Serial number of the invoice
  • Our GSTIN (as mentioned on the Purchase Order issued)
  • Our address
  • Harmonised System of Nomenclature (HSN) code for Goods supplied
  • Service Accounting Code (SAC) for Services rendered
  • Description of goods & services
  • Quantity/units in case of goods
  • Value of goods / services supplied
  • Discount / abatement, if any
  • Taxable value of supply after considering the discount / abatement
  • Rate of tax for CGST and SGST / IGST (rate for each type of tax should be separately disclosed on the invoice)
  • Amount of tax charged – CGST and SGST / IGST (amount of each type of tax should be separately disclosed on  the invoice)
  • Place of supply along with the name of State
  • Address of delivery
  • Whether tax is payable on reverse charge basis
  • Signature or the digital signature of the authorized signatory.

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