Video Transcription

Today let us talk about invoicing under GST
In the non-GST regime, a taxpayer has to deal with a number of invoices. But in the GST regime, the number of invoices have been reduced to two:

Tax invoice & Delivery challan

  • When a registered taxable person supplies taxable goods or services, a tax invoice is issued. Tax invoice is generally issued to charge the tax and pass on the credit.
  • When a registered person receives goods or services from un-registered person, then such registered person is required to raise invoice.
  • In GST law, there are some instances where the supplier is not allowed to charge any tax and hence a Tax invoice can’t be issued. In such cases, another document called Delivery Challan is issued.
  • When there is a supply of exempted goods or services or goods are to be supplied to the job work, the supplier needs to issue delivery challan.
  • The supplier is required to issue three copies of the invoice– Original, Duplicate, and Triplicate.

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