A tax invoice is typically used to charge the tax or to pass on the input tax credit. While creating a GST invoice there are a few mandatory fields that you should be aware of to avoid rework:
1. Invoice number and date
2. Customer name
3. Place of supply
4. Shipping and billing address
5. Taxable value and discounts
6. Item details (includes description, quantity, unit and total value)
7. HSN Code/SAC code
8. Customer and Taxpayer’s GSTIN (if the user is registered)
9. Rate of tax
10. Amount of taxes that is CGST/SGST/IGST
11. Signature of the supplier
12. Answer the query whether GST is payable on a reverse charge basis
In case the recipient is not registered and the value exceeds Rs. 50000 the invoice should also mandatorily state the following information:
1. Name and address of the recipient
2. Delivery address
3. Name of the state
4. State code
Creating a GST invoice format in excel is very easy. So here is how you do it:
Step1: Open Microsoft Excel
In Microsoft Excel, click on the “file” option and select “new. You may need to select ‘blank workbook’ in order to open a new worksheet.
Step2: Remove the gridlines
Just click on the ‘view’ table and uncheck the ‘gridlines’ checkbox.
Step3: Add a company logo and other details like name, address and other contact details to ensure that the invoice appears to belong to your company
Step4: Enter the customer details
Step5: Enter the details relevant to transactions
You should enter the following information while entering the transaction details:
· Quantity of the goods/services
· Price of the goods/services
· Total amount
In addition to these pointers, you need to enter all the mandatory fields mentioned above.
Step6: Enter the payment details
Mention the bank details along with your preferred payment option and the due date.
Note: Regardless of what version of Microsoft excel you own the steps remain the same.
It is especially helpful if you are confused about the different fields. Moreover, you can also download readymade GST invoices in excel format anytime you want. Once done you can save the invoice in PDF format by going to File and choosing download.
Now here are some quick questions that people commonly have related to fields in the invoice:
1. Is there a difference between the due date and the invoice date?
Yes, the due date refers to the date by which the payment must be made, whereas the invoice date is the date on which the invoice was created
2. Is it proper to maintain serial number order?
Yes, it is mandatory to maintain the proper order of consecutive serial numbers in addition to the consistency of the format. However, if you want to change the format, you can do so by giving written notice to the GST department in addition to mentioning the reasons.
3. Is it possible to digitally sign the DSC?
Yes you can digitally sign the digital signature certificate (DSC).