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2018-06-15 02:32:21GST CenterEnglishLearn what information you're required to include on your invoices to make them GST-compliant. Whether you create your own invoices or you... Customise Your Invoices to Be GST-Compliant

Tip: Customise Your Invoices to Be GST-Compliant

1 min read

In order for your invoices to be GST compliant, they need to include specific details, such as your company’s name, address, and GSTIN. Before creating your own invoices, you should consider making a list of everything your invoices need to include so you don’t miss anything accidentally.

GST-compliant invoices should include:

  • Name, address, and GSTIN of the supplier (your company)
  • Invoice number that’s unique to the current year, consecutive in order, and comprised of only letters and numbers
  • Name, address, and GSTIN of the recipient — if the recipient is a business that is registered for GST
  • Address used for delivery — if applicable, you should also include the state code
  • Brief description of the goods or services being provided by your company
  • Total value of the goods or services included in the transaction
  • Quantity of the goods or services included in the transaction
  • HSN/SAC codes for all of the products or services provided
  • Taxable value of the goods — if applicable this number should include any discounts given
  • Tax rate — this should be the tax percentage under IGST, SGST, or CGST
  • Exact amount of tax charged
  • Place of supply — your address including the state — if you’re supplying goods or services via commerce or inter-state trade
  • If the place of delivery is different than the place of supply, it should be listed too
  • Reverse tax, if it applies to the transaction

As a business owner, you have the option of creating your own GST-compliant invoices or using cloud-based customised billing software, such as QuickBooks Online, to complete the process. While either option is fine, as long as all of the information is included, using GST-compliant accounting software could speed up the invoice creation process quite a bit.

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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