Types of Invoices in GST

The GST regime has brought about many changes in the way businesses in India conduct their operations. One of the most significant changes is the requirement to issue various types of invoices and vouchers as prescribed by the CGST Rules. Here is an overview of the different types of invoices and vouchers that businesses must issue:

1. Tax Invoice: All registered persons, except suppliers of exempted goods or services or both, and composition dealers, must issue a tax invoice for taxable supplies of goods or services or both, including zero-rated supplies. The tax invoice must contain various particulars as specified in rule 46 and rule 54 of CGST Rules.
2. Bill of Supply: Registered persons supplying exempted goods or services or both, or paying tax under the composition scheme, must issue a bill of supply instead of a tax invoice. There is no specified format for a bill of supply, but it should contain various particulars as specified in rule 49 of CGST Rules.
3. Invoice cum Bill of Supply: Registered persons making supplies of goods or services or both to an unregistered person, which consist of both taxable and exempted supplies, may issue only one document, i.e., an invoice cum bill of supply, for both taxable and exempted supplies, as specified in rule 46A of CGST Rules.
4. Receipt Voucher: On receipt of an advance payment for any supply of goods or services or both, a registered person must issue a receipt voucher. The receipt voucher should contain various particulars as specified in rule 50 of CGST Rules.
5. Refund Voucher: If no supply is made and no tax invoice is issued after receiving an advance payment for any supply of goods or services or both, the registered person may issue a refund voucher against such payment. The refund voucher should contain the particulars as specified in rule 51 of CGST Rules.
6. Payment Voucher: A registered person liable to pay tax under the reverse charge mechanism must issue a payment voucher at the time of making payment to the supplier. The payment voucher should contain the particulars as specified in rule 52 of CGST Rules.
7. Debit Note: A registered person must issue a debit note if the taxable value or tax charged in respect of a supply is more than the taxable value or tax payable mentioned in the tax invoice. The debit note should contain the particulars as specified in rule 53 of CGST Rules.
8. Credit Note: A registered person may issue a credit note to the recipient if the taxable value or tax charged in the tax invoice is found to exceed the taxable value or tax payable in respect of any supply or where the goods are returned or where goods or services or both are found to be deficient. The credit note should contain the particulars as specified in rule 53 of CGST Rules.
9. Self Invoice: As per Section 31(3)(f) of CGST Act, every registered person must raise a self-invoice in respect of inward supplies that are covered under the reverse charge mechanism from an unregistered person. The self-invoice should contain the particulars as specified in rule 46 of CGST Rules.
10. Delivery Challan: A delivery challan can be issued if goods are being moved for specific reasons, and no tax invoice, debit note, credit note, or bill of supply is being issued. Such reasons include the supply of liquid gas where the quantity at the time of removal from the supplier’s business place is unknown, transportation of goods for job work, transportation of goods for reasons other than by way of supply, transportation of goods in a semi-knocked down or completely knocked down condition or in batches or lots, or other supplies as notified by the Board. The delivery challan should contain the particulars as specified in rule 55 of CGST Rules.