Hi all,
I deal with both taxable & exempted products and some times bill both items to same customer also.
While billing both items for a customer, can I use like 0% tax column for exempted goods or how it should be done?
And whiling filing GST return, how this invoice should be filed which includes both exempted and taxable?
Billing for Both Taxable and Exempted Goods -
*Separate Line Items*: Bill taxable and exempted goods separately, with clear indication of tax rates. -
*Tax Rates*: Apply applicable tax rates to taxable goods and indicate "Nil" or "Exempt" for exempted goods. Invoicing -
*Invoice Format*: Use a format that allows separate line items for taxable and exempted goods. -
*HSN/SAC Codes*: Use correct HSN/SAC codes and indicate tax rates. Filing GST Return -
*GSTR-1*: Report taxable and exempted supplies separately. - .
*Break-up of Supplies*: Provide break-up of taxable, exempted, and zero-rated supplies. Best Practice - *Clearly Indicate Exempted Goods*: Indicate exempted goods as "Exempt" or "Nil" rate, rather than using 0% tax column, to avoid confusion. Consult a GST professional for specific guidance tailored to your business.
SKAA & Associates
New Delhi
CA Inter
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