Particulars of tax invoice [Section 31(1) & (2) read with Rule 46 of CGST] - GST Ready Reckoner - GST

Particulars of tax invoice [ Section 31(1) (2) read with Rule 46 of CGST] There is no format prescribed for an invoice, but rules make it mandatory for an invoice to have the following fields (only applicable fields are to be filled), a particular of tax invoice for goods or services or both prescribed under rule 46 of CGST Rules. name, address and Goods and Services Tax Identification Number of the supplier; a consecutive serial number not exceeding 16 characters, in one or multiple series, containing alphabets or numerals or special characters hyphen or dash and slash symbolised as - and / respectively, and any combination thereof, unique for a financial year; date of its issue; If recipient is registered:- name, address and Goods and Services Tax Identification Number or Unique Identity Number, If recipient is unregistered:- Value of supply is more than Rs. 50,000:- name and address of the recipient and the address of delivery, along with the name of the State and code, Value of supply is less than Rs. 50,000:- name and address of the recipient and the address of delivery, along with the name of the State and its code, and the recipient requests that such details be recorded in the tax invoice; Irrespective of the value of supply :- in cases involving supply of online money gaming or in cases where any taxable service is supplied by or through an electronic commerce operator or by a supplier of online information and database access or retrieval services to a recipient who is un-registered, irrespective of the value of such supply, a tax invoice issued by the registered person shall contain the name of the state of the recipient and the same shall be deemed to be the address on record of the recipient. Any taxable service is supplied to unregistered person, irrespective of value of supply:- any taxable services supplied by or through an electronic commerce operator or by a supplier of OIDR services to a recipient who is un-registered, irrespective of the value of such supply, a tax invoice issued by the registered person shall contain the name of the state of the recipient and the same shall be deemed to be the address on record of the recipient. HSN code for goods or services; description of goods or services; quantity in case of goods and unit or Unique Quantity Code thereof; total value of supply of goods or services or both; taxable value of the supply of goods or services or both taking into account discount or abatement, if any; rate of tax (central tax, State tax, integrated tax, Union territory tax or cess); amount of tax charged in respect of taxable goods or services (central tax, State tax, integrated tax, Union territory tax or cess); place of supply along with the name of the State, in the case of a supply in the course of inter-State trade or commerce; address of delivery where the same is different from the place of supply; whether the tax is payable on reverse charge basis; and signature or digital signature of the supplier or his authorised representative: in case invoice has been issued E-Invoice Quick Reference code, having embedded Invoice Reference Number (IRN) in it ; the signature or digital signature of the supplier or his authorised representative shall not be required in the case of issuance of an e-invoice . the tax invoice shall have Quick Response (QR) code. Number of HSN digits required on tax invoice and class of registered person not required to mention HSN Provided that the Board may, on the recommendations of the Council, by notification, specify- the number of digits of HSN code for goods or services that a class of registered persons shall be required to mention; or a class of supply of goods or services for which specified number of digits of HSN code shall be required to be mentioned by all registered taxpayers; and the class of registered persons that would not be required to mention the HSN code for goods or services: Relaxation With respect to HSN Code or Accounting code of service HSN code is 8 digit code. SAC Code is of 6 digits. Howsoever relaxation can be given by CBIC in indicating the number of digits of HSN Code for goods or SAC Code for services for the class of registered person. As per Notification No. 12/2017 Central Tax dated 15-10-2020 A registered person having annual turnover in the preceding financial year as specified in column (2) of the Table below shall mention the digits of HSN Codes, as specified in the corresponding entry in column (3) of the said Table, in a tax invoice issued by him under the rule 46 of CGST Rules. Serial Number Aggregate Turnover in the preceding Financial Year Number of Digits of HSN Code (1) (2) (3) 1. Up to rupees five crores 4 2. More than rupees five crores 6 Exemption from HSN Code :- A registered person having aggregate turnover up to five crores rupees in the previous financial year may not mention the number of digits of HSN Code, in a tax invoice issued by him under the said rules in respect of supplies made to unregistered persons. Invoice in case of export of goods or services It i s important to note that particulars of an Export Invoice are same as a Tax Invoice. In the case of the export of goods or services, the invoice shall carry an endorsement Export is made under in payment of IGST :- SUPPLY MEANT FOR EXPORT/SUPPLY TO SEZ UNIT OR SEZ DEVELOPER FOR AUTHORISED OPERATIONS ON PAYMENT OF INTEGRATED TAX or Export is made under LUT/Bond :- SUPPLY MEANT FOR EXPORT/SUPPLY TO SEZ UNIT OR SEZ DEVELOPER FOR AUTHORISED OPERATIONS UNDER BOND OR LETTER OF UNDERTAKING WITHOUT PAYMENT OF INTEGRATED TAX , as the case may be. Export to Unregistered person :- where recipient is unregistered and value of supply is Rs. 5 0 , 0 0 0 o r m o r e , i n s t e a d of name of State and its code, in case of an export inv oice, name of the country of destination is to be mentioned.