FOC Invoice

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Accountant
86 Points Posted on 14 January 2023

We have send some sample through Transporter by   FOC INVOICE  which Taxable Value come  Rs. 8000.00 +  IGST(18%) 1440.00=Rs. 9440.00(Gross Value)

Now our Question is -

  1. GSTR 1 & GSTR 3B  Return where we show the above FOC Invoice ?
  2. Can we pay IGST(Rs. 1440.00) if Yes then Payment Procedure?
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On 14 January 2023 at 17:28 Report
Replies (6)
Quick Summary
This discussion clarifies how to report Free of Cost (FOC) invoices in GST returns. While FOC invoices generally don't require GST payment if no consideration is received, specific rules apply. It's confirmed that FOC invoices, even for interstate supplies, require an e-way bill if the value exceeds Rs. 50,000, as this is linked to the movement of goods.

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Profession
19978 Points Posted on 15 January 2023
Payment procedure is thru online login to gst portal.
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On 15 January 2023 at 07:35
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Chartered Accountant
44442 Points Posted on 15 January 2023
FOC invoice means???
2 Reply
On 15 January 2023 at 20:53
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Accountant
86 Points Posted on 02 February 2023

FOC Invoice Means Free of Cost

1 Reply
On 02 February 2023 at 12:38
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Chartered Accountant
44442 Points Posted on 02 February 2023
No need to show such invoice in GST return as no consideration received. No need to pay GST.
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On 02 February 2023 at 23:37
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Accountant
86 Points Posted on 08 March 2023

If FOC Invoice value cross Rupee 50000.00 for Interstate supply then Ewaybill required ???????????????

 

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On 08 March 2023 at 18:12
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Guest

Posted on 09 March 2023

Yes, e-way bill is required to be issued as the same is  linked to movement of goods and not supply of goods

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On 09 March 2023 at 09:22

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