Learn about GST Invoices and Invoice Format – After the GST, all businesses must provide GST backed invoices to ensure good service to their consumers. Currently, goods and services tax is included in the GST, and this tax is collected from the consumer. Hence, consumers need to know what tax they are paying under the GST rules.
To ensure that you are offering every information with an account explained by gst, you must provide the correct breakdown of CGST and SGST in your account. So why not learn something about how to create your gst account in Excel and provide correct information to your clients.
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GST Invoice Format
Companies registered with GST must ensure that their accounts comply with the established format. They have a unique GST number and must provide a genuine GST certificate stating the GST. This means they must comply with the GST Act and create the correct invoice format in accordance with the regulations.
An ideal invoice should contain the following details:
- Seller’s GSTN
- Bing date and time
- Account number
- Consumer billing address
- Consumer shipping address (if shipping is required)
- Buyer’s GSTN (if registered)
- HSN code or Harmonized Nomenclature System Code (required if the company’s annual turnover exceeds Rs 1.5 million. For a company with an yearly turnover of INR 1.5 to Rs 5 crores, they must provide their HSN code in two digits.Annual turnover over INR 5 million, invoice must include 4-digit HSN code.For exporters and importers, 8-digit HSN code is mandatory on GST compliant invoices)
- Discount amount (if applicable)
GST details with SGST and CGST interest and the amount collected as CGST, SGST or IGST (if GST applies)
Authorized signature and stamp of the seller.
Thus, the invoice must be an invoice explain by gst, which ensures that the consumer receives security for the tax levied.
As a merchant, you may need to use an Excel format GST invoice whenever you need to provide an invoice to a consumer. This Excel format simplifies everything and makes billing faster and easier.
You can easily download GST Excel invoice from trusted sources and use them to compile your invoice. This will reduce the step and time of manual labor in invoicing.
An ideal GST Excel account should be accompanied by a built-in GST calculator that provides detailed information on the GST amount for any service or product.
Many software companies provide GST software to help generate automated invoices in accordance with GST and government regulations. This software can also help you store data in Excel format for your business. If you are a registered and licensed company, the GST software can help you a lot.
All GST registered companies must provide their suppliers with GST compliant invoices and include all required information. They can use Excel GST format or even software to ensure a smooth billing process.