Gst invoice

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Guest

GST Checklist

Friends, Here It is the Checklist for GST. Make sure that you are ready to witness the India’s Biggest Tax Reform on tomorrow i.e. 1st July, 2017.

Make sure that you have migrated or taken fresh registration under the GST.

Collecting GSTIN of Vendors & Customers: Make sure that you have collected the GSTIN of all the vendors & Customers.

GST Ready Invoices: Make sure that you have finalized the GST ready Invoices because you have to issue it form 01/07/2017.

Start recording of sales in excel format containing details of;

S. No. of invoice,
Date of Invoice,
Name of Receiver,
Address,
GSTIN of Receiver,
Intra state sales (Yes/No),
Name of Product/ Service,
HSN/SAC Code,
Quantity,
Rate,
Total Value,
Discount,
Taxable Value,
SGST,
CGST,
IGST.

Make sure that you have learned about all three monthly returns GSTR-1, GSTR-2, GSTR-3 & GST -9.

Be vigilant to market news & GST portal updates.

Inform GST authority of changes: You need to inform the GST authority within 15 days after any change in your business circumstances. These changes include: Change in business registered address or mailing address, Change in business name, Change in business constitution or ownership etc.

Attached File : 956752 20170704183418 gst checklist.doc downloaded: 92 times

Replies (3)

Venkat Hegde

86 Points Joined December 2008

How to raise invoice on foreign entity? What is the State Code in this case?

Guest

are you talking about export?

Going by the provisions, it is not export, as in this case supply of service is within India. Fact is, wholly owned subsidiary in India wants to raise an invoice on its parent company situated outside India for having rendered training service to customers in India on behalf of parent company. This is not a routine thing, but on few occassions, this situation arises where, subisidiary wants to bill on its parent company and not on customers in India. But, this does not qualify as export as per the provisions, as actual supply of service happens within India. How to raise invoice, as in this case what will be the place of supply and State Code as IGST invoice should have place of supply and state code.

Thanks.