GST Invoice for Service Provider and more

GST Invoice for Service Provider and more

GST Invoice for Service Provider

GST Invoice for Service Provider : Invoice is a document which records the terms of an underlying arrangement between parties. An invoice does not bring into existence an agreement but merely records the terms of a preexisting agreement. GST requires that an invoice – tax invoice or bill of supply – to be issued on the occurrence of certain event or within a prescribed time. Therefore, an invoice, among others is required to be issued for every other form of supply such as sale, transfer, barter, exchange, license, rental, lease or disposal. 

Invoice Format Under GST, Manner of Issuing Invoice & Time of issue of Invoice. An attempt is made to formats most important voucher of supply under GST Law, that is, INVOICE in line with provision continued in “Draft Invoice Rules” read with “Draft Formats under Invoice Rules” and “Section 28″ of Revised Model GST Law (November 2016)”.

GST Invoice for Service Provider

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Invoice is a document which records the terms of an underlying arrangement between parties. An invoice does not bring into existence an agreement but merely records the terms of a preexisting agreement. GST requires that an invoice – tax invoice or bill of supply – to be issued on the occurrence of certain event or within a prescribed time.

Therefore, an invoice, among others is required to be issued for every other form of supply such as sale, transfer, barter, exchange, license, rental, lease or disposal. The section uses the phrase registered person as a person who is required to issue an invoice whereas a taxable person is one who alone is entitled to input tax credit.

The format is drafted in view to ease of uploading of invoice to obtain “Invoice Reference Number” from GSTN (GST portal) as per “FORM GST INV -1” and while furnishing serial number of the invoice electronically through the Common Portal in FORM GSTR-1.

Goods and service tax (GST) has been implemented. Now GST has replaced VAT and excise in the bill. Businesses will be required to show both SGST and CGST in both the tax bills in the B2B bill. The way the bills are made for businessmen in GST has changed.

GST Invoice for Service Provider

GST Invoice for Service Provider

The details of the purchaser and the supplier were given to the traders on the bill. Also the GSTN number is shown in place of TIN. Purchaser has shown his PAN card number on the bill too. All GST taxpayers, ie traders and businessmen, can make their invoice formats according to their own. According to GST law, there is a certain field in the invoice. Now there should be an alternative to GST in place of VAT in the bill.

Small retailers do a large number of transactions. They do not need to make a bill for the transaction of up to Rs 200 in GST but if the customer demands a bill then the retailer has to make the bill. The retailer will not need to give details of each transaction to the government. He will have to make an invoice of all day transactions, which will be submitted to the trader government.

GST Invoice for Service Provider

It is mandatory to have a copy of the invoice for the transporter in normal position. However, the GSTN will be given an Invoice Reference Number to the Trader. If taxpayers generate these reference numbers, then there will be no need to keep a copy of the invoice bill at the time of transportation. This will not threaten to lose, disappear, break the paper bill.

GST Invoice for Service Provider

GST Invoice for Service Provider

A tax invoice can be issued at or before the time of removal of the goods for making the supply, where the supply can be made only on moving the goods (either by the supplier or by the recipient, or any other person).

  • However, where the supply to the recipient does not involve movement of the goods, the tax invoice would be due at the time of delivery or making the goods available to the recipient. It is not necessary that every supply requires movement of goods on the basis that all goods are movable in nature.
  • The time of removal would matter only in cases where the removal of goods and the movement of goods is by virtue of the supply.
  • Consider the case of sale on approval basis. Goods would be removed at a certain time, and may be delivered to the location of the recipient. However, it is not known at the time of removal, whether the transaction results in a supply. Therefore, the time of confirmation by the recipient that he wishes to retain the goods would be the due date for issuing the tax invoice.
  • The Government is also empowered to notify certain categories of supplies in respect of which it can prescribe a separate time limit for issuance of tax invoice.

GST Invoice for Service Provider

9 Best GST Accounting Software for service Business:

  1. Zendesk service

Zendesk offers a wide range of tools and can be used for any size of business at anys tage..It brings all the multiple channels like emails, phone, live chat and social media. It helps in creating more meaningful relationships with the customers. This is one of the best GST accounting software for service business

Features:

  • Self service portal
  • Survey and feedback
  • Alerts escalation
  • Community forums
  • Ticket management
  • Issue tracking
  • Online forums
  • Third party integration
  • Social media integration
  • Live chat system
  • Knowledge base
  • Automated routing
  • Multiple brands products
  • Help desk management
  • Macros
  • Sla management
  1. Bitrix 24 sales agentIt is a complete featured software of a service business.It has powerful sales agaent management tools like sales training to agent management tools and attendence chart. This is one of the best available GST accounting software for service businessIt is one of best software in this category and it comes with more 30 tools.Features:
    • Cloud computing
    • CRM and sales reports
    • Customer support
    • Document management
    • Email templates
    • Lead generation
    • Marketing automation
    • Task management
    • Mobile app
    • Campaigns
    • CRM and sales
    • CRM analytics
    • Developer API
    • Email marketing and SMS marketing
    • Invoice
    • Marketing analytics
    • Marketing collateral
    • Sales tracking
    • Lead management
  1. WindsSFAIt is a software that enables  you to manage their leads, opportunities, contacts, clients, tasks, teams, product information, analysis and reporting all of these just from one software. It is an user friendly software that has a wide range of features. This is one of the best available GST accounting software for service businessFeatures:
    • Reports
    • Sales forecasting
    • Lead management
    • Customer database
    • Sales collaboration
    • Activity management
    • Expense management
    • Task management
    • Opportunity management
    • Contact management
    • Call management
    • Sales performance management
    • Alerts and notifications
  1. Gizmosys HRMS Software

It is one the best HR software that can manage all the departments in an HR business in an easy manner and error free. Gizmosys takes care of a business regardless of its size.

Features:

  • Bonus, loan and advances management
  • Employee self service management
  • Help desk
  • Online test and psychometric tests
  • Performance management
  • Statutory compliances
  • Training management
  • Asset management
  • Document management
  • Exit management and separate management-full and final settlement
  • Knowledge management
  • Payroll
  • Shift management
  • Time and attendance management
  • Employee data base
  1. Smart savings posts office agents

It is an exclusive software for post office agents. Smart savings includes al the advanced features like automatic calculations advanced schedule preparation and printing, multi agent support, etc.

  1. Quantis- asset and wealth management

It is a multi currency treasury software made for asset managers, insurers and pension fund managers.  It provides end to end investment management operations.

It improves your business workflow and ha string user defined compliance rules.

  1. Quick base agency management

Quickbase helps in reducing the overhead of managing property listings, potential buyers, agreements and work orders for  real estate business. It allows the system to build applications that promote significant and particular requirement for the business to improve its function.

  1. Qube Global

Its main objective is to win and retain business. It delivers a high service level to its owners and the clients as it is both end software. It is also both user and mobile friendly.

9. Reach Accountant

Reach is a user friendly software that customizes with any business. It has a wide range of features and helps you in managing all the departments that comes in your business. It improves your workflow, increases profit, allows you to work from any location, is mobile friendly, etc. This is the best GST accounting software for service business

Features:

  • Business automation
  • Email management
  • Accounting
  • Invoicing
  • Operations and process
  • Bank synchronization
  • Addons
  • Tally import
  • Purchases
  • Sales
  • Access
  • Multi company
  • Auditor view
  • Multi branch
  • Mobile app

GST Invoice for Service Provider

Check here to know more on GST and to download GST Billing Rules :

SL NO. TOPICSLINK
1.Invoicing Under GST CHECK HERE
2.Invoicing Under GST RulesCHECK HERE

Check here to know more on GST HSN Code with Rate :

SL NO. TOPICSLINK
1.GST Rate ScheduleCHECK HERE
2.GST Rate by GST CouncilCHECK HERE
3.GST HSN Codes EnrollnmentCHECK HERE

Check here to know more on GST HSN CODE in Excel Format :

SL NO. TOPICSLINK
1.GST HSN Code list in Excel FormatCHECK HERE
2.GST Rate List with HSN Code – All Items ListCHECK HERE
3.GST Invoice Format PDFCHECK HERE
4.GST Invoice Format ExcelCHECK HERE
5.

HSN Code List for GST in Word

CHECK HERE 
6. Item Wise GST Rates Decided on 18th June 2017 on Certain ServicesCHECK HERE

Check here to know more on GST Delivery Challan :

SL NO. TOPICSLINK
1.GST Delivery Challan Excel format 1CHECK HERE
2.GST Delivery Challan Excel format 2CHECK HERE
3.GST Delivery Challan PDF formatCHECK HERE

For more on GST and GST Invoice for Service Provider log onto https://www.cakart.in

Preparing for CA Final? - Must read below
CAKART provides Indias top faculty each subject video classes and lectures – online & in Pen Drive/ DVD – at very cost effective rates. Get video classes from CAKART.in. Quality is much better than local tuition, so results are much better. Watch demo videos below -

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