How to see GST Invoice Serial Number in GST Software?

In India, it is now compulsory that if you sell products or services then you need to issue invoice to your customers. To get ahead in the business every businessman need to know more about the new and updated GST invoice rules. In this article we will discuss about the GST invoice serial number and various components that are associated with it. We all know that the tax invoice under GST is an important document. On the other hand it is not only evidence of supply of goods or services, but it is also a crucial document for the recipient to avail Input Tax Credit (ITC). For each and every entity selling goods or services in India, raising correct GST invoices is very important. 

On the other hand we know that GST is going to change the way that the country complies with the taxation on the mass scale. Thus GST is a destination-based, transaction-wise reporting tax structure, which brings together the States and Union Territories of India under one roof and removes multiple tax levies. So it is necessary to bring all the invoices under the process of the GST to ambit of the statute. 

Do you know that how to seek that the total clarity in all the transactions throughout the flow of the same, the GST process requires the heavy duty that are reporting the structure that is consistent across the process flow that records. For this purpose the GST prescribes to have the consistent invoice based reporting system that helps to record all the important and necessary information that are related to the movement of the goods from the place of the origin to the destination.  

How GST Invoice becomes a crucial factor?

In the whole process of the sales and purchase the GST invoice plays a vital role. Therefore it will form the crux of the uploading returns and fetching of credit. Consequently, logistics or supply chain will also be strengthened when there is a common document throughout the whole flow. In simple words the invoice is considered as a commercial instrument that is being issued by a seller to the buyer. It not only serves as an evidence of supply of goods and services but is also an indicator of time of supply. Invoicing plays a very crucial role and is of high importance under GST. 

Thus, business entity owner must take good care in maintaining the invoices, uploading returns and that too, on time, to get smooth credits and a better working capital. Nowadays the invoices that have been divided into the several categories that is under the GST regime. For the reason there are several types of GST invoice, vouchers, debit notes, credit notes, supplementary invoice as well as the bill of the supply. The GST removes all the prevalent invoicing system that includes the tax invoice, VAT invoice, excise invoice and retail or the commercial invoice. Therefore all of these invoices were the mutually exclusive to each other. They were charged under separate laws having separate jurisdiction and applicability. Since GST is a One Nation Tax, it will be mandatory to issue only the former documents, by all the taxpayers.

What is the purpose of invoicing under GST?

Under the GST regime, an “invoice” or “tax invoice” means the tax invoice referred to in section 31 of the CGST Act, 2017. In simple words GST mandates the invoice as a transaction of the supply when there is the transfer, exchange, rental, lease, barter, disposal or license of the goods or services. For the reason whenever a transaction takes place then a tax invoice has to be issues that all depends on the occurrence of any kind of the event or under the prescribed time limit. Every taxpayer who is registered under the GST network one should require to issue a tax invoice for the supply of the goods or services. There are certain circumstances in which tax invoices have to be raised. At that time in case of supply of goods, the invoices shall be raised within the prescribed time.   

When there is the actual movement of the goods before or at the time of the removal of such kind of goods.

On the other if there is no movement then the earlier of delivery or making available of such goods.

In order of the successive issuance of goods then the earlier of each such issuance. 

At the time of receiving the receipt of goods when on GST is applicable on the reverse charge basis. 

Whenever goods sold on an approval basis then the earlier of six months from the removal date or before or at the time of such removal. For the reason in case of the supply of goods, the original for the recipient, duplicate for the transporter, the triplicate copy is issued for the supplier. In case supply of services and invoices to be issues in the formed of duplicated. Therefore the original will be meant for the recipient and the duplicate copy will be for the supplier.   

Do you want to see GST invoice serial number and want to know how to create GST invoice?

We all know that the government of the India has come out with the sample of the GST invoice format. Therefore the serial number of the invoice forms the basis of the mismatch or matching the invoices between the supplier and the receiver that has giving a seamless or hassle free credit flow. 

There is some of the crucial information that needs to be mentioned mandatorily in the GST invoice. Below mention are some of them:

• Name, address and the GSTIN of the supplier
• Nature or purpose of Invoice
• Invoice number
• Date of invoice
• Name, address and the GSTIN of the recipient
• Description of the goods or services
• HSN code of the goods or the Accounting Code of the Services
• Description of goods or services
• Quantity in case of goods and unit or Unique Quantity Code there of
• Total value of the goods or services
• Rate of Tax on each item
• Tax amount charged, on account of CGST, IGST, and SGST to be shown separately under different columns
• Name of the supplying State and the place of supply
• Place of delivery
• A statement mentioning whether reverse charge is applicable or not
• Signature or digital signature of the supplier or his authorized representative