Question 1

Is a GST invoice different from a tax invoice?

Accepted Answer

In practice the terms are used interchangeably. GST law calls it a tax invoice, and it must carry the words "tax invoice" prominently, along with the supplier and recipient details, the HSN or SAC code, the taxable value, the tax rate and the amount of tax shown separately as CGST, SGST or IGST.

Question 2

Who has to issue a GST invoice?

Accepted Answer

Every registered person supplying taxable goods or services must issue one, except for a few categories such as composition dealers who issue a bill of supply instead. A registered buyer needs the tax invoice to claim input tax credit, so issuing one properly is part of the supply, not an afterthought.

Question 3

Can I issue an invoice without a GSTIN?

Accepted Answer

You can issue a plain invoice if you are not registered, but you cannot charge GST or call it a tax invoice. Once your turnover crosses the threshold for your state, or you sell across states, registration becomes mandatory and the invoice has to carry your GSTIN.

Question 4

What is the time limit for issuing an invoice?

Accepted Answer

For goods, the invoice is generally raised on or before the date of removal of the goods, or when they are made available to the recipient. For services, it is within 30 days of the supply being completed. Continuous supplies can be invoiced at agreed intervals.

Question 5

How many decimal places should amounts carry?

Accepted Answer

The taxable value and tax amounts are normally shown to two decimal places, and the grand total is often rounded to the nearest rupee. This builder rounds each published figure to two decimals and, if you switch round-off on, adds a separate round-off line so the arithmetic still reconciles.

Question 6

Do I need a signature on the invoice?

Accepted Answer

A signature or digital signature is required on the tax invoice under the rules, unless the invoice is issued by an electronic method and the supplier is authorised to do so. A scanned signature block with the signatory name and designation is what most businesses print, and that is what this builder produces.