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GST Transactions

Last updated on 07 November, 2017

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Under the GST system, all documents issued during a transaction must follow the rules and format specified by the government. This guide explains the nature of each document and its formats.

Different types of GST compliant documents

Document Purpose
Tax Invoice A tax invoice contains the list of goods/services, along with the description, quantity, and value of the supply made by the vendor. It also includes the total value and the tax charged on the supply. It is issued when a registered dealer supplies taxable goods or services. 
Bill of Supply A bill of supply is issued when tax cannot be charged on the goods or services sold. It is usually issued when composition dealers make a sale or when exempt goods/services are supplied.
Delivery Challan When no actual sale of goods or services takes place, a delivery challan is generated instead of a tax invoice. For example, during the transportation of goods from one warehouse to another, a delivery challan is issued.
Credit Note When the cost of goods or services supplied (or the tax amount levied on them) that is furnished in a tax invoice is higher than the actual chargeable rate, a credit note is issued to the recipient. The credit note allows the supplier to credit the corresponding amount to the client’s account. 
Debit Note Debit notes are usually issued to rectify the erroneous values recorded in the invoices. At times, a debit note may be issued by the vendor to request a credit note from the customer. 
e-Way Bill An e-way bill is a permit needed for inter-state transportation of goods worth more than Rs. 50,000. It can be electronically generated through the GSTN. E-way bills are not required for exempted goods.
Bill of Entry Bill of Entry is a legal document that is filed by importers or customs clearance agents on or before the arrival of imported goods. It’s submitted to the Customs department as a part of the customs clearance procedure.
Shipping Bill When certain goods are exported out of India, or supplies are provided to SEZ, they need to be taxed under GST and approved by the Customs department. The shipping bill contains information about the exported supplies, their value, and the custom duty and IGST paid on them.

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