Thus, invoice is a document based on which the supplier asks for the payment. Furthermore, when such a payment is made, it acts as a document of title for the buyer. Under GST regime, it is mandatory to issue an invoice whenever a supply of goods or services takes place.
However, it is not mandatory to issue the invoice only on the part of the person making the supply of such goods or services. As per the GST law, any registered person buying goods or services from an unregistered person is required to issue both a payment voucher and a gst invoice for such a transaction.
Furthermore, there are various types of gst invoices. The type of invoice to be issued depends upon the type of registered person who is making a supply.
For instance, if a registered person supplies or purchases goods from an unregistered person, gst invoice needs to be issued by such a registered person. But, if the registered person under GST is supplying exempted goods or is registered under composition scheme, he is required to issue bill of supply in such a case.
Finally, the registered person need not issue an invoice or bill of supply, if the value of supply is less than Rs 200.