Invoices Accounts EWay bills Payments under GST Kush

Invoices, Accounts, E-Way bills Payments under GST Kush Vora Institute of Chartered Accountants of India Cuffe Parade 29. 05. 2017 Powerpoint Templates

1. Tax Invoices, Debit Notes & Credit Notes Powerpoint Templates

Tax Invoice- S. 31 Type Goods Services Normal supply Before or at time of removal of goods or delivery Before or after provision of service but within 30 days Continuous supply A. In case of successive statements issued- before or at time of submission of statement of accounts A. Where due date is ascertainable as per contract- before or within 30 days from such due date B. In case of successive payments- at the B. Where due date is not ascertainable as time of receipt of payment per contract- before or within 30 days from such payment C. Where payment linked to completion of event- before or within 30 days from completion of event Manner Original- For Recipient Original- For Supplier Duplicate- For Transporter Duplicate- For Recipient Triplicate- For Supplier Subodh Vora & Co. , Chartered Accountants. All rights reserved

TYPE OF INVOICES Sr. No. Type Prescribed 1. Normal supply > INR 200 Tax Invoice 2. Exports Export invoice 3. Composition scheme Bill of Supply 4. Advances received Receipt Voucher 5. Advances canceled Refund voucher 6. Reverse Charge payments Payment voucher 7. Input Service Distributor Tax invoice of special nature Subodh Vora & Co. , Chartered Accountants. All rights reserved

TAX INVOICE- PARTICULARS Normal Invoice 11. Address of delivery 1. Name, address and GSTIN of the supplier 12. Rate of tax 2 Consecutive serial number 13. Amount of tax 3. Date of its issue 14. Whether tax is payable under RCM 4. Name, address and GSTIN, of the recipient; 15. Signature or Digital Signature 5. HSN code for goods or SAC code for services 6. Description of goods/ services 7. Quantity Exports 1. “SUPPLY MEANT FOR EXPORT UNDER BOND OR LETTER OF UNDERTAKING WITHOUT PAYMENT OF INTEGRATED TAX” 8. Total value 9. Taxable value after discount or abatement 10. Place of supply with name of state in case of inter state supplies 2. Name and address of the recipient; 3. Address of delivery 4. Name of the country of destination Subodh Vora & Co. , Chartered Accountants. All rights reserved 5

BILL OF SUPPLY- PARTICULARS Format 1. Name, address and GSTIN of the supplier 2. Consecutive serial number 3. Date of its supply 3. Name, address and GSTIN, of the recipient; 4. HSN code for goods or SAC code for services 5. Description of goods/ services 6. Total value 7. Taxable value after discount or abatement 8. Place of supply with name of state in case of inter state supplies 9. Signature or Digital Signature of supplier or authorized representative. Subodh Vora & Co. , Chartered Accountants. All rights reserved 6

RECEIPT VOUCHER-PARTICULARS Format 1. Name, address and GSTIN of the supplier 2. Consecutive serial number 3. Date of its issue 4. Name, address and GSTIN, of the recipient; 5. HSN code for goods or SAC code for services 6. Description of goods/ services 7. Amount of advance taken 8. Amount of tax charged 9. Place of supply with name of state in case of inter state supplies 11. Whether tax is payable under RCM 12. Signature or Digital Signature Subodh Vora & Co. , Chartered Accountants. All rights reserved 7

REFUND VOUCHER- PARTICULARS Format 1. Name, address and GSTIN of the supplier 2. Consecutive serial number 3. Date of its issue 4. Name, address and GSTIN, of the recipient; 5. Number & date of receipt voucher issued. 6. Description of goods/ services 7. Amount of refund made 8. Rate of tax 9. Whether tax is payable under RCM 10. Signature or Digital Signature Subodh Vora & Co. , Chartered Accountants. All rights reserved 8

PAYMENT VOUCHER- PARTICULARS Format 1. Name, address and GSTIN of the supplier 2. Consecutive serial number 3. Date of its issue 4. Name, address and GSTIN, of the recipient; 5. Description of goods/ service 6. Amount of tax payable 7. Amount paid 8. Rate of tax 9. Place of supply with name of state in case of inter state supplies 10. Signature or Digital Signature Subodh Vora & Co. , Chartered Accountants. All rights reserved 9

Credit & Debit Notes Credit Notes A. Price is reduced Debit Notes A. Price is increased B. Goods are returned C. Services found to be deficient * Only supplier to issue Credit or Debit Note * Incidence of tax not to be passed on to other person Subodh Vora & Co. , Chartered Accountants. All rights reserved

REVISED INVOICE, DN NOTE, CR. NOTE Format 1. The word “Revised invoice” wherever applicable 2. Name, address and GSTIN of the supplier 3. Consecutive serial number 4. Name, address of the recipient and the address along with the state name 5. Nature of document 6. Name, address and GSTIN, of the recipient; 7. Serial number and date of corresponding tax invoice 8. Rate of tax 9. Signature or Digital Signature Subodh Vora & Co. , Chartered Accountants. All rights reserved 11

2. Accounts and Records Powerpoint Templates

Accounts & Records. . Production or manufacture of goods E. g. • Invoices • Bill of supply • Delivery challans • Credit notes • Debit notes • Receipt vouchers • Refund vouchers • E-Way bills Output tax payable and paid Input tax credit availed Subodh Vora & Co. , Chartered Accountants. All rights reserved Inward & outward supply of goods & service both Stock of goods

. . Accounts & Records (Other Points) 1. Accounts of additional place to be kept at respective places 2. Accounts maintainable even in electronic form as may be prescribed 3. Accounts to be audited by Chartered Accountant or Cost Accountant if TO exceeds prescribed limit 4. Accounts to be retained till 72 months from due date of filing of annual return i. e. effectively 6 year 9 months. 5. In case of pending appeal, revision, etc till 1 year after disposal of case Subodh Vora & Co. , Chartered Accountants. All rights reserved

. . Accounts & Records (Other Points) 6. Accounts to be maintained separately for trading, manufacturing and services 7. Monthly production accounts showing quantitative details of RM, services , etc 8. Agents to maintain specific accounts such as authorization papers, accounts furnished to principal, etc 9. Works contractor- Separate account for each WC and as prescribed 10. Godown operator/ transporters- Stringent provisions Subodh Vora & Co. , Chartered Accountants. All rights reserved

3. E-Way Bill Powerpoint Templates

PROCESS OF E-WAY BILL Every supplier whose consignment value > 50, 000 Before commencement of movement- part A of EWay Bill If goods sent through transporter, he has to file part B of E-Way bill If no reply filed, deemed to be accepted] Recipient to communicate acceptance or rejection within 72 hours Unique E-Way Bill No. to be provided to supplier, transporter & recipient Subodh Vora & Co. , Chartered Accountants. All rights reserved 17

OTHER POINTS (E-WAY BILL) Multiple consignment in one truck- Consolidated E-Way Bill Cancellation of E- Way bill provided Copy of E-Way bill along with invoice copy to be carried by transporter Facility of linking E-Way bill to RFID also provided Proper officers to be empowered to verify E-Way Bill for all inter state and intra state movement of goods. Inspection report also to be uploaded. Subodh Vora & Co. , Chartered Accountants. All rights reserved

VALIDITY OF E-WAY BILL Sr. No. Distance Validity period 1. Less than 100 km 1 day 2. 100 km – 300 km 3 days 3. 300 km – 500 km 5 days 4. 500 km – 1000 km 10 days 5. 1000 km or more 15 days Subodh Vora & Co. , Chartered Accountants. All rights reserved

4. Payments under GST Powerpoint Templates

“ELECTRONIC CASH LEDGER Debit Credit • Payment of liability XXX • TDS liability XXX • TCS liability XXX • RCM liability XXX • Cash Payment/ NEFT/ RTGS/ETC Subodh Vora & Co. , Chartered Accountants. All rights reserved XXX

AVAILMENT OF INPUT TAX CREDIT ITC CGST SGST CGST IGST Subodh Vora & Co.

“ELECTRONIC CREDIT LEDGER Debit Credit • Payment of liability XXX • Refund of unutilized

ELECTRONIC TAX LIABILITY LEDGER Debit Credit • Tax, Interest, Late fees payable as per return XXX • Payment by Electronic Credit Ledger XXX • Tax, interest, penalty as determined by proper officer in any proceedings XXX • Payment by Electronic Cash Ledger XXX • Tax and interest payable due to mismatch XXX • Any relief given by Appellate Tribunal or court XXX • Interest from time to time XXX Subodh Vora & Co. , Chartered Accountants. All rights reserved

THANK YOU Partners Subodh Vora M: +91 -9821151467 | E: subodh@scvora. com D-723/ 724, Neelkanth Business Park, Vidyavihar (West), Mumbai 400086 022 -25138594 | 022 -25148595 | 022 -25148596 www. scvora. com Kush Vora M: +91 -9821305187| E: kush. vora@scvora. com Bhakti Vora M: +91 -9821362481| E: bhakti. vora@scvora. com