Issuing Receipt under GST Tax

Basics Of GST

We would be discussing about receipt format under gst tax and how can it help in gst filing as a part of basics of gst course
Issuing receipt under gst

A receipt is acknowledgment of the fact that money has been received in cash or kind (goods) for supply of certain goods or service. It can be issued on both sides like while collecting payment and also on buyer of goods side while receiving the goods. In this basics of GST series post we discuss about how is receipt issued under GST tax

Receipt Format under GST

The receipt format under GST has been clearly stated under that act. The receipt should have the following details as below

  • Basic details of supplier i.e. name, place of business and GSTN to be clearly stated
  • A serial number to be there. It cannot be more than 16 characters. It can contain alphabets, numeric or symbol of “– “and “/”. Every receipt under GST tax should have a unique number mentioned on it
  • Issuance Date
  • Recipient details like name, address and GSTIN if he is registered under GST tax
  • Details of Goods and Service to be supplied
  • Advance amount taken
  • Tax rate
  • Amount of tax charged for various heads like IGST, service tax, CGST etc and its code, in
  • Clearly state that if reverse charge basis is applicable for GST tax payment
  • Digital Signature of authorized person

GST Taxes on Receipt

The person issuing invoice under GST tax needs to make sure that appropriate amount is deposited with the government. In cases where the person is unable to establish rates, payment has to be made at 18%. Also, if they are unable to establish place it has to be taken as inter-state tax while deducting GST tax.

For learning and reading more about GST tax check out our basics of GST series. In case of any help related to issuing receipt under GST tax you can contact The Buzz Stand Team


Issuing Receipt under GST Tax
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Issuing Receipt under GST Tax
We would be discussing about how a receipt is issued under new GST act and what should be the format for issuing a receipt? This would be a part of basic of GST series started by The Buzz Stand
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The Buzz Stand
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