Category: GST Billing

How and When to Issue Credit Note under GST?

We have learnt about the scenarios in which a supplier should issue a Debit note in our previous blog. Debit Notes and Credit notes are instruments used to record the cancellation or modification of a supply for which Tax Invoice or Bill of Supply has…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

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Time of Issue of Invoice in Continuous Supply under GST

A continuous supply is a supply where goods or services are supplied on a recurring basis under a contract and payment for the supply is also made periodically. For example: A contract for supply of mineral water to a company for 6 months, supply of…

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Get ready for GST with Tally.ERP 9 Release 6

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GST on Interest on Delayed Payment by Customer

Many suppliers have defined credit terms, which require their customers to make payment for supplies by a certain date. If the payment is not made, the supplier charges interest on the amount due from the customer. One of the major questions both suppliers and customers…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

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GST Rounding Rules for Tax Values

In business, it is common to face scenarios where the value of tax turns out to be in decimals. How to treat such values? Should the amount of tax be retained with decimals? Or should it be rounded upward to the nearest rupee? Or should…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

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Tax Value Calculation When Price is Inclusive of GST

In business, it is common to issue and receive invoices for goods or services where the price is inclusive of tax. Inclusive of tax means that the price quoted includes the value of tax. In such cases, a person has to do a back-calculation to…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

49,677 total views, 88 views today

When Should a Supplier Issue Debit Note under GST?

We have learnt about Tax Invoice and Bill of Supply under GST, which are to be issued at the time of supply. Once a supply is made and Tax invoice or Bill of Supply has been issued, the supply can be cancelled or modified due…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

21,601 total views, 41 views today

Your Checklist for a GST Tax Invoice (Downloadable)

Every tax invoice issued under GST has to contain certain details, which are mandatory to be mentioned. There is also a time limit within which an invoice should be issued. This checklist can be used by you to ensure that you issue valid and complete…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

52,056 total views, 521 views today

Quick Guide to GST Bill/ Invoice Numbering

Invoice matching is a unique and critical requirement of the GST regime. Therefore, we can understand that the businesses are worried about how to handle GST Bill Numbering under GST regime. Are you GST ready yet? Get ready for GST with Tally.ERP 9 Release 6…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

87,386 total views, 144 views today

A Guide to Start GST Invoicing from 30th June Midnight

Introduction “At the stroke of the midnight hour, when the world sleeps, India will awake to life and freedom.” These words of our first Prime Minister Pt. Jawaharlal Nehru, spoken at the midnight of 14th August, 1947 – as India prepared itself to welcome independence…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

116,531 total views, 978 views today

GST Invoicing in Special Business Cases 

In the GST regime, broadly two types of invoices will be issued – Tax Invoice and Bill of Supply. Tax invoice is to be issued by a registered taxable person for the supply of taxable goods or services. The bill of supply is to be issued…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

132,722 total views, 2,235 views today