Documents & Records under GST

Sanjay Dwivedi
Advocate
Documents for Supply

Tax Invoice
• For taxable supplies + zero rated

Bill of Supply
• For exempted/ composition
supplies
Tax Invoice
 Outward Taxable Supplies
 Outward zero rated supplies (exports and SEZ supplies)
 Inward supplies from Un-registered Persons (URP)
Bill of Supply
 Outward exempted supplies
 Outward Composition Supplies
 Input Tax Credit is not available against ‘Bill of Supply’
(Exports & SEZ supplies are not exempted. They are zero
rated. )
Prescribed Contents
 Contents: Prescribed by rules
 Format: Can be devised by us
 Additional Contents: Can be added
Invoice for Goods
 If supply involve movement of goods – Invoice is to be
issued before or at the time of removal of goods
 Other Cases: Before or at the time of
 delivery of goods or
 making available thereof to the recipient
Invoice for Services
 Before the supply or
 Maximum within 30 days of the supply
Small Value Invoices
 Invoice value less than Rs. 200/-
 If recipient is registered, we must issue the Invoice.
 Customer unregistered and does not demand:
 Issue a consolidated invoice at close of the day
Invoice Serial Numbers
 Sr. no. – advance intimation not required. But inform
under GSTR-1.
 Use continuous running serial for the financial year
(starting with sr. 1).
 Can have as many series of invoices, as we want (no
permission)
 Sr. No. to have maximum 16 digit. Can have letters,
numbers, special characters.
Copies of the Invoice
 Goods: Three Copies - marked
 ORIGINAL FOR RECIPIENT
 DUPLICATE FOR TRANSPORTER
 TRIPLICATE FOR SUPPLIER
 Services: Two Copies – marked
 ORIGINAL FOR RECIPIENT
 DUPLICATE FOR SUPPLIER
New Registration
 Issue ‘revised invoices’ against invoices issued during:
 The effective date of registration and
 The date of issuance of registration certificate
Documents relating to Payments

Document Applies to
Receipt Voucher: Receipt of Advance
Payment Voucher: Payment made for
- Inward RCM supplies (both - registered
and unregistered)
- Inward URP supplies
Refund Voucher: - Payment received in advance, Receipt
Voucher issued, BUT
- supply not made and Tax Invoice not
issued
Advance

For goods Issue

Advance
or ‘Receipt
received
services Voucher’

‘Receipt Voucher’ details to be prescribed

Payment Voucher

Registered
RCM
Payment Un-
Made registered
URP
Credit Notes/ Debit Notes
 Supplier to Issue Credit note if
 Excess value and/ or tax charged; or
 Goods are returned by the recipient; or
 Services are found to be deficient
 Debit note (or supplementary invoice) if short value and/
or tax charged.
 Credit note to be reported latest by September after
close of Financial year.
 Debit note to be reported in the return for the month
Continuous Supply of Goods
 Means a supply of goods which is provided, or agreed to
be provided, continuously or on recurrent basis,
 under a contract,
 whether or not by means of a wire, cable, pipeline or
other conduit, and
 for which the supplier invoices the recipient on a regular
or periodic basis;
Continuous Supply of Services
 Means a supply of services which is provided, or agreed
to be provided, continuously or on recurrent basis,
 under a contract, for a period exceeding three months
 with periodic payment obligations and
 includes supply services notified by government
Continuous Supply – Invoice for Goods

Supply Involves Issue invoice

Successive statements of
accounts Before or at the time each
Successive payments happens
Continuous supply: Invoice for Services

Due date of payment • Before or within 30 days

ascertainable from contract
Due date not ascertainable • Within 30 days of receipt of
payment

Payment is linked to the • Within 30 days of the time of

completion of an event completion of that event;

23rd November, 2016

Sale on Approval: Goods
 If goods are removed before it is known whether a supply
will take place, the time of supply shall be
 at the time when it becomes known that the supply has taken
place or
 six months from the date of removal

whichever is earlier.

23rd November, 2016

Records
 Records should be maintained at the principal place of
business as well as at all the additional places of business.
 Record for a place of business should be available at that
place.
 Electronic records – access and view must be available at
the place of business
Records to be maintained (Sec 35)
 Production or manufacture of goods;
 Inward and outward supply of goods or services or both;
 Stock of goods;
 Input Tax Credit availed;
 Output tax payable and paid; and
 The goods or services imported or exported
 Supplies attracting payment of tax on reverse charge
along with the relevant documents,
Records to be maintained (Sec 35)
 Invoices, bills of supply, delivery challans, credit notes,
debit notes, receipt vouchers, payment vouchers and
refund vouchers.
 Advances received, paid and adjustments made thereto.
 Details of tax payable, tax collected and paid,
 Tax payable and paid under Reverse Charge Mechanism
 Input tax, input tax credit claimed, together with a
register of tax invoice, credit notes, debit notes, delivery
challan issued or received during any tax period.
Stock Records
 Stock Records are to be maintained in respect of
 Traded Goods
 Raw materials
 Finished goods
 Waste & Scrap
Stock Account to contain
 Opening balance,
 Receipt,
 Supply,
 Goods lost, stolen, destroyed, written off or disposed of
by way of gift or free sample
 Balance of Stock

 Rule 56 (2)
Service Providers
 Quantitative details of goods used in the provision of
services
 Details of input services utilised
 The services supplied.
Person executing ‘Works Contract’
 The names and addresses of the persons on whose behalf
the works contract is executed;
 Description, value and quantity (wherever applicable) of
goods or services received for the execution of works
contract;
 Description, value and quantity (wherever applicable) of
goods or services utilized in the execution of works
contract;
 The details of payment received in respect of each works
contract; and
 The names and addresses of suppliers from whom he
received goods or services.
Un-registered Persons
 Maintain records of the consignor, consignee and other
relevant details of the goods even if they are not
registered.
 Applies to:
 Every transporter
 Every owner or operator of warehouse or godown or any
other place used for storage of goods
 Thanks 512, Ecstasy Business Park,
Sanjay Dwivedi Citi of Joy, J. S. D. Road,
Advocate Mulund (West),
Mumbai - 400 080.

9320 456 555

sanjay@srdlegal.in Tel. : +91-22-25 6565 47/ 48
: +91 90048 25702
Fax : +91-22-25 6565 49

06th May, 2018