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- MANDATORY REGISTRATION
- NEED BASED REGISTRATIONS & LICENSES
- INCOME TAX & GST
- TRADEMARK / PATENT
GST Invoice can be termed as an important document in the process of collecting tax under the GST Act; it is referred as an instrument which is issued by a seller or a supplier of goods or services to the buyer or the recipient of such goods or services. In more practical terms, it is an invoice issued by a registered taxable person when he supplies taxable goods or services to its customers, such an invoice works as a legit document for claiming Input tax credit (ITC) by the customers of such goods or services. The GST invoice serves as legal evidence in case of any payment being due on the part of the buyer, the seller can ask for such payment from the buyer on the basis of a GST invoice. As per the GST Act it is mandatory to issue an invoice whenever the supplier supplies any goods or services to its customers. However, it is not considered important that the invoice should be issued by the person making the supply; the GST law permits any registered person who buys goods or services from an unregistered person to issue such an invoice.
Keeping a GST invoice imparts benefits not only to the seller but also to the buyer ,i.e., it serves as a proof of the transaction executed between both the parties, the invoice helps in maintaining the record of the time of the supply of goods or services and furthermore the buyer can claim input tax credit through this invoice.
As per the GST Act, when the goods are transported from one place to another a bill is created which is known as an E-way bill or electronic way bill. An e-way bill is an electronic bill or a document produced for recording the movement of goods from one place to another which are transported either within the state or between two or more states. However such a bill needs to be made only when the value of the goods exceeds INR 50,000 as per the GST regime. The e-way bill is to be generated by the consignor or the consignee himself but in case of neither of them do so, the transporter of the goods shall generate such a bill.
However, if we throw some light on the validity of an e-way bill it depends upon the distance to be travelled by the goods, i.e., for a distance of less than 100 km, the e-way bill shall be valid for a day from the relevant date. On the other hand, with every 100 km afterwards the validity will be additional one day from the relevant date. Though, the validity of the e-way bill cannot be extended but the commissioner may extend such validity by issuing notification. The purpose of issuing an e-way bill is to keep the track of movement of goods from one place to another and serving as a tool to check any tax evasion.
Valcus Pvt ltd implements required action relating to GST invoice and e-way bill and thereby imparting satisfactory solutions to the clients. If you have any GST registration and e-way bill requirements then you can surely connect with us and we will provide appropriate solutions within given time frame. There are points which influence users to choose us
Other than assisting in GST Invoice and e-way Bill, Valcus is also giving required assistance in different services such as company registration, ITR filing, TDS return and all that. You can also interact with us to understand the process GST invoice and e-way bill generation. Stay in touch with our experts to get the end to end solutions. Our services are economical and doest put extra burden customer’s pocket. Select the finest GST accounting solutions for your business requirements at Valcus.