Tax Invoice, Credit note & Debit Note related Queries with Answers 2020. FAQ’s on Tax Invoice, Credit note & Debit Note: FAQ’s on GST Tax Invoice as per latest GST Bill 2020, FAQ’s on GST Credit note & Debit Note as per GST Bill 2019. CBEC has released Frequently asked questions (FAQ’s) on Goods and Services Tax. Finance Ministry Release Various FAQs on GST, Here we are providing FAQs on GST Tax Invoice, Credit note & Debit Note as per Goods and Service Tax Law 2020. Check Various Question and Answers on Tax Invoice, Credit note & Debit Note. Now scroll down below n check more details for “FAQ’s on Tax Invoice, Credit note & Debit Note”
Definitions -
“credit note” means a document issued by a registered person under sub-section (1) of section 34;Tax Invoice, Credit note & Debit Note related Queries with Answers
Q1. When should a Tax Invoice be issued for supply of Goods? Ans. The answer depends upon the type of goods. As per Sec.31(1), if the nature of the supply is such that:- Movement of goods is involved, then the tax invoice has to be issued before or at the time of removal of the goods for supply to the recipient.
- Movement of goods is not involved, then the tax invoice has to be issued before or at the time of the goods are delivered to the recipient or when the goods are made available to the recipient.
- The taxable value on which the tax is collected is more than the actual taxable value;
- The tax charged is more than what should have been charged;
- The recipient has returned the goods;
- The recipient has found that the goods or services supplied are deficient.
- (a) Name, address, GSTIN of the supplier
- (b) Consecutive Serial Number unique for a financial year having alphabets, numerals and special characters being “-“or “ / “ only
- (c) Date of Issue
- (d) Name and address of the recipient
- (e) GSTIN/UID of the recipient, if registered
- (f) HSN code of Goods or Accounting Code of Services
- (g) Description of Goods / Services
- (h) Quantity and Unit(or Unique Quantity Code) in case of Goods
- (i) Total Value of Goods and Services
- (j) Post discount/abatement taxable value of Goods and Services
- (k) Rate of Tax, Separately for each type of tax (Central tax, State tax, Integrated tax, Union territory tax)
- (l) Amount of Tax Charged
- (m)Place of Supply along with the name of the State if the supply is an inter-State supply
- (n) Place of delivery if different from place of supply
- (o) Whether tax is payable on reverse charge
- (p) Signature/Digital Signature of the Suppler or his authorised representative.
- (a) Gross weight of the consignment
- (b) Name of the Consignor and the Consignee
- (c) Registration number of the goods carriage
- (d) Details of goods transported
- (e) Details of place of origin and destination
- (f) GSTIN of the person liable to pay tax (whether as consignor, consignee or GTA).
- (a) Name, address, GSTIN of the supplier
- (b) Consecutive Serial Number unique for a financial year having alphabets/ numerals and special characters being “-“ or “ / “ only
- (c) Date of Issue
- (d) Name, and address of the recipient
- (e) GSTIN/UID of the recipient, if registered
- (f) HSN code of Goods or Accounting Code of Services
- (g) Description of Goods / Services
- (h) Post discount/abatement value of Goods and Services
- (i)Signature/Digital Signature of the Suppler or his authorised representative.