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GST Tax Invoice Format in Excel Format

The only proof for purchasing goods or services and making transactions is the invoicing and GST invoicing. By using those respective invoices and bills, the seller will receive payments from the consumer, based on the payment methods (EMI, due, on-time payment, pay later, and so on.)

So an invoice must hold the details such as – the product or services that are sold, the price of the product, the quantity it was purchased, payment due details, details about tax and other terms & conditions, in case of requirement.

It is not only advisable to use the GST invoice for customers but also, it is necessary to use GST Invoice as per the GST law, for all taxpayers. Without the help of GST, GST invoice, and GST bills, it does not help the seller to collect any payment.

Data to be grabbed in the GST Tax Invoice Format

Hunting what might be the most important elements in a GST Tax invoice format to notify your customer. These GST invoice information must be prescribed in detail to make them feel convenient, and safer from the seller’s perspective.

List of details to be included in the GST Invoice Format

  • Company details: Generally, the company details must include – Name, Address, ZIP code, Email, and Phone number. Additionally, you can add a field, if required.
  • Client details: Client details must include – Name, Address, and the contact details
  • Invoice number as per your business records and documentation
  • Applicable GST tax and Total cash amount at the bottom
  • Goods/Services details: It should include – the goods/service description, its quantity, respective cost, taxable amount, and amount due
  • Bank details: This field must hold – Name, Account Number, and IFSC code
  • Payment Terms and desired payment date

The above-mentioned data are some of the basic and essential fields. Thus you need to include that information in a GST tax invoice format. Those data must be added before forwarding the GST invoice to your respective customer. Without the perfect GST invoice format, the seller is unable to forward it to your customer.

Types of Invoices Under GST

When it comes to types of GST invoices, in the old regime, there were 2 types of GST invoices – Tax Invoices and Retail Invoices.

  • Tax Invoice – Local sales to the registered dealers which is taxable
  • Retail Sales – All other cases. Example: All central sales, local sales to unregistered, local sales tax-free

But currently there exist different types of GST invoices for the supply of goods and services. Let’s explore the different types of GST invoice formats under the law of GST.

GST Invoice Type 1: Tax Invoice

Under the law of GST, business taxpayers supplying any type of products or services must issue the GST invoice to the supplier. If this kind of document or invoice is issued from the supplier to the buyer, it is said to be an “Invoice” or “Tax Invoice”

GST Invoice Type 2: Bill of Supply

The next GST invoice type is a bill of supply. This is the new type of GST invoice in the GST regime. The business individual who chose a composition scheme or who is providing exempted product or services or even both needs to offer a bill of supply. The receiver cannot claim the ITC as per the bill of supply.

If a registered taxable person supplies the product or services with a minimum of Rs.200, then it is not mandatory to issue the bill of supply, as it is optional. For small bills, the supplier may choose not to apply the bill of supply.

GST Invoice Type 3: Receipt Voucher

When the registered taxpayer acquires any type of advance from the consumer, the respective person must issue a receipt voucher as evidence of receipt of that payment.

GST Invoice Type 4: Refund Voucher

Consider the case – if the receipt voucher is offered to the consumer, but against which is – No supply has been created, then the respective registered taxable person must provide the refund voucher.

GST Invoice Type 5: Payment voucher

When the GST registered tax person acquires any supplies of product and services from any of the unregistered individuals, they need to provide a voucher to the supplier while creating the payment, under the reverse charge. Further, the payment voucher is issued to those business transactions on which the reverse charge is applicable.

GST Invoice Type 5: Credit Note

The seller must issue the credit note to the buyer, if products are returned or if there is any reduction in the cost of product/services, or sometimes both. The information regarding the credit note must be reported in the tax return to minimize the tax liability. To provide the credit note, the time limit is – by the September following the financial year end or the annual return filing date whichever is before.

GST Invoice Type 6: Debit Note

If the vendor charges the minimum cost from the actual cost of provided products or services or even both in the invoice, then the vendor must issue a debit note to the buyer. The vendor needs to state the value of the debit note in the GSTR for the respective month when the debit note has been issued.

Types of Invoices Under GST

Here are some of the points to be maintained if you are a business owner issuing and managing GST invoices.

In the case of Goods:

  • Original to the Recipient
  • A Copy or Duplicate to the Transporter
  • For Supplier – Invoice should be Triplicates, for this record.

In the case of Supply:

  • Original to the Recipient
  • A Copy or Duplicate to the Supplier, for their need and record.

mybooks to Create Custom GST Invoice

If you are a business owner and looking for the GST bill format in Excel, you can use the above resource to make the tax bill in excel. Also, you can use the GST invoice generators app like mybooks. mybooks is one of the free invoice generator apps, to keep your GST bill more effective.

Generate GST invoice using mybooks Web App

  • Login to mybooks GST accounting and invoicing web app
  • Go to Settings > Business Settings > Templates
  • You can find various invoicing templates, GST invoicing and billing templates, and thermal templates
  • Variant 3 is one of the customized invoice and tax invoice templates. 
  • Edit the Title using the “Title Text” Field on the bottom left
  • You can also use the other invoice and TAx invoice templates to make your GST invoice template and format look professional.
  • Click the save and update button
  • That’s it, your professional GST invoice template is ready to create
  • Now, you can create your invoice, by navigating to Transactions > Invoices > You can either create the new invoice or GST invoice or you can use the already created one.