GST Invoice Builder - Generate GST Compliant Invoices Online | Bizeneed

As per Rule 46 of CGST Rules, 2016, the mandatory fields include: (1) GSTIN of supplier, (2) Legal/trade name of supplier, (3) Address with PIN, (4) State code, (5) GSTIN of recipient (B2B), (6) Invoice number (max 16 chars), (7) Invoice date, (8) HSN/SAC code, (9) Product description, (10) Quantity & UQC, (11) Taxable value, (12) GST rate, (13) CGST/IGST/SGST amounts, (14) Total value, and (15) Authorized signatory.

There are 7 types of invoices under GST: (1) Tax Invoice for B2B and B2C taxable supplies, (2) Bill of Supply for exempt/nil-rated goods or composition dealers, (3) Export Invoice for export of goods/services with Shipping Bill details, (4) Credit Note to reduce tax liability, (5) Debit Note to increase tax liability, (6) Receipt Voucher for advance payments, and (7) Payment Voucher for payment against exempt/nil-rated supplies.

As per Notification No. 14/2024-Central Tax dated 9th August 2024, e-invoicing (IRN generation) is mandatory for taxpayers with aggregate turnover exceeding Rs. 5 crore in any preceding financial year from FY 2023-24. This applies to all B2B invoices, export invoices, and credit/debit notes. The threshold was Rs. 10 crore earlier and was gradually reduced to Rs. 5 crore.

The invoice serial number (or invoice number) must not exceed 16 characters as per GST rules. It can contain alphanumeric characters and special symbols such as forward slash (/) and hyphen (-). The numbering must be continuous for the financial year and must not be interrupted. For example: INV/2024-25/001 to INV/2024-25/999.

For goods: invoice must be issued before or at the time of removal/delivery. For services: within 30 days of supply. For banking/financial services: within 45 days. For export: at the time of removal/loading/shipping. Continuous supply of goods/services: on each date of payment or monthly invoice if payment received periodically.

If an invoice is issued incorrectly or with wrong particulars, the penalty can be Rs. 10,000 per invoice under CGST Act Section 125. For not issuing invoices, the penalty is Rs. 10,000 or the tax evaded (whichever is higher). If details are wrong but tax is correctly declared, penalty is minimum Rs. 10,000. Additionally, delay in issuing invoice beyond 30/45 days attracts Rs. 100 per day (Rs. 200/day total CGST+SGST).

A Tax Invoice includes GST and is issued for taxable supplies (above Rs. 200 or as requested by the recipient). A Bill of Supply does not include GST and is issued for (1) exempt supplies, (2) nil-rated supplies, and (3) supplies by composition scheme taxpayers. The bill of supply must mention 'Bill of Supply' prominently instead of 'Tax Invoice'.

Yes, you can amend invoice details using a Credit Note or Debit Note as per Section 34 of CGST Act. For errors in the invoice (wrong GSTIN, wrong value, wrong HSN code, wrong tax rate), issue a Credit Note for the original invoice and raise a fresh correct invoice. Credit Notes must be issued within the earlier of: (1) 30th September of next FY, or (2) date of filing annual return for that FY.

IRN (Invoice Reference Number) is a unique number generated by the GST Invoice Registration Portal (IRP) for every e-invoice uploaded. It is mandatory for B2B supplies, export invoices, and credit/debit notes when the taxpayer turnover exceeds Rs. 5 crore. The IRP generates the IRN, a digitally signed QR code, and a signed JSON response. The IRN cannot be cancelled once generated.

The e-invoice JSON (version 1.1 schema) includes: (1) Transaction Type (e.g., B2B, SEZWP), (2) Document Details (invoice number, date, type), (3) Seller Details (GSTIN, legal name, address), (4) Buyer Details (GSTIN, legal name, billing/shipping address, place of supply), (5) Line Items (product details, HSN, quantity, value, GST rates), (6) Invoice Value (total, assessable, CGST, SGST, IGST, cess), (7) Payment Details, and (8) Additional charges if any.

All registered taxpayers must maintain GST records for 6 years from the due date of filing the annual return (Rule 56 of CGST Rules). This means 72 months total. For businesses subject to audit under Section 64 or 65 (turnover exceeding the audit threshold), records must be maintained for 8 years. E-invoices must be stored with both the printed copy and the digitally signed JSON response.

A Credit Note is issued when the taxable value or tax charged in the original invoice exceeds what was actually payable, or when the recipient returns goods/services. It must contain: supplier details, recipient details, original invoice number and date, credit note serial number, date, reason for credit note, and the amount of tax credited. Credit Notes are usually issued due to post-sale discounts, returns, defective goods, or overbilling.

A Debit Note is issued when the tax charged in the original invoice is less than what was actually payable, or when the recipient refuses to accept the supply. It has the same format as a credit note but indicates a debit. The supplier's tax liability increases on issuance of a debit note. Debit notes must also be reported in GSTR-1 and the recipient must accept them in GSTR-2A/2B.

B2B (Business to Business) invoices require the recipient's GSTIN and both CGST/SGST (intra-state) or IGST (inter-state) is charged. These invoices are visible in the recipient's GSTR-2B for ITC claims. B2C (Business to Consumer) invoices do not require GSTIN but need the customer name and at least one address. For B2C large invoices (over Rs. 2.5 lakh), special 'B2C Large' invoice format is required in e-invoicing.

For goods/services attracting different GST rates, create separate line items for each HSN/SAC code. Each line item must show: description, HSN/SAC code, quantity, unit rate, taxable value, applicable GST rate, and tax amount. Invoices can have multiple HSN/SAC codes, but each code must have its separate tax calculation. For mixed supplies, tax is at the highest applicable rate.