Creating an invoice might look like a simple accounting task but under GST getting the details right matters. A proper invoice helps your customer understand the transaction supports your tax records and makes GST reporting easier.
You might still search for a ready GST invoice template or GST bill format before creating your first invoice. Instead, the law specifies the information that a tax invoice must contain under Rule 46 of the CGST Rules.
TallyPrime simplifies this process by helping you record GST transactions, create invoices and calculate taxes while connecting with GST-related processes like e-invoicing.
What is a GST invoice?
A GST invoice is basically a document issued by a registered taxpayer for the taxable supply of goods or services. It records important transaction details like the supplier and buyer information, goods or services supplied and the GST rate. A GST tax invoice format should make all the details easy to identify. Importantly, there is not one compulsory design that every business has to follow.
Mandatory Fields in a GST Invoice
Before downloading a GST bill format PDF or creating your own template, make sure the invoice contains the required details.
Under Rule 46, key particulars include:
- Supplier’s name, address, and GSTIN
- A unique invoice number
- Date of issue
- Buyer’s name, address, and GSTIN/UIN where applicable
- HSN code for goods or SAC for services
- Description of goods or services
- Quantity and unit for goods
- Total value of the supply
- Taxable value after applicable discounts
- Applicable GST rate
- Amount of GST charged
- Place of supply, where applicable
- Address of delivery, where required under the applicable GST rules
- Whether tax is payable under reverse charge
- Signature or digital signature of the supplier or authorised representative
What is a GST invoice number?
Your invoice number should uniquely identify the transaction. Under Rule 46, the invoice serial number should be consecutive and unique for the financial year and follow the permitted rules. The exact number format is up to your business but it should follow a consistent system and avoid duplicate numbers. Keep your numbering organized and this also makes it easier to find invoices and maintain proper records.
GST invoice format with HSN code
HSN codes are an important part of GST invoicing for goods while services use the applicable SAC. The exact requirement can depend on the applicable GST rules and notifications for the taxpayer and transactions, so you should use the code applicable to your goods or services rather than copying a code from another invoice.
GST Invoice Format With CGST, SGST and IGST
GST treatment depends on the nature and location of the supply.
For an Intra-State taxable supply, the invoice generally reflects CGST and SGST/UTGST separately.
For an Inter-State taxable supply, IGST is generally applicable.
For example, if the taxable value is ₹10,000 and the applicable GST rate is 18%:
Intra-State sale:
- Taxable value: ₹10,000
- CGST @ 9%: ₹900
- SGST @ 9%: ₹900
- Total invoice value: ₹11,800
Inter-State sale:
- Taxable value: ₹10,000
- IGST @ 18%: ₹1,800
- Total invoice value: ₹11,800
GST invoice format in Excel vs Word
You might look for a GST invoice format in Excel or GST invoice format in Word because these formats are easy to edit. Word can be useful when you want a simple professional document with your business logo, address, terms, and invoice information. But manually maintaining invoices and spreadsheets or documents can become difficult as transaction volumes grow.
Excel can be useful when you need calculations, especially for:
- Quantity
- Rate
- Discounts
- Taxable value
- GST calculations
- Total invoice value
How to create a GST invoice in TallyPrime
TallyPrime is designed to help you record GST sales and create invoices while keeping the accounting information connected with the transaction. Before creating an invoice, GST needs to be enabled for the company and the relevant GST registration details should be configured.
Set up GST details
Open your company in TallyPrime and enable GST. Enter details such as your state and configure the applicable registration type.
Configure your items and ledgers
Set up your stock items or service-related ledgers with appropriate GST details.
Create the sales invoice
In TallyPrime, go to Alt+G > Create Voucher > F8 (Sales). You can choose the appropriate invoice mode and enter details such as the party, sales ledger, items or services, quantities, rates, and GST information.
Review the GST details
Before saving, check the GST rate taxable value and place of supply and tax amounts.
Print or share the invoice
Once the transaction is recorded you can print or share the invoice in the required format. TallyPrime also supports customizable invoice templates allowing you to maintain your branding while including the required transaction details.
Need help with TallyPrime GST invoicing?
Creating GST invoices is easy when your TallyPrime setup is configured correctly. If you need help with GST invoicing or TallyPrime customization, GSeven provides TallyPrime consulting and implementation. Connect with experts today and get expert guidance for setting up smoother, more reliable GST invoicing processes for your business.
Conclusion
It is important to understand that a GST invoice does not need to look complicated. What matters is that it contains the required information and accurately reflects the transaction. Whether you are searching for a GST invoice template or GST invoice format in excel always start with GST requirements rather than simply downloading the first template you find.
FAQs
Is there one fixed GST invoice format?
No GST does not prescribe one specific visual design for every invoice. Instead, Rule 46 specifies the particulars that a tax invoice must contain.
What is included in the GST invoice?
It generally includes supplier and recipient details, invoice number and date besides quantity where applicable tax amount.
Does a GST invoice need an HSN code?
Accounting code details are prescribed under the GST invoice rules, subject to the applicable requirements and notified exceptions.
Can I create a GST invoice in Excel or Word?
Yes, you can create your own invoice documents in excel or word as long as the applicable GST requirements are met. But manually preparing invoices can be difficult as transaction volumes increase.
Can TallyPrime generate GST-compliant invoices?
TallyPrime supports GST-compliant invoicing and allows you to configure GST details.