GST sample invoice, bill, taxation format, returns & Digital signature certificate

What is GST ?

GST stands for Goods and Services Tax. It is an indirect tax throughout India levied by central and state government which had replaced all other previous indirect taxes (e.g. VAT, CST, Service tax etc.).

 
Who need to register under GST ?

If your annual gross turnover exceeds Rs. 20 lakhs (10 lakhs for North Eastern states) you need to register under GST. Please read the exemption list before register under GST.

Every person who are already registered under any earlier indirect tax law (e.g. VAT, CST, Service tax etc.) need to register under GST.


Rates of GST 

There are four rates such as 5%, 12%, 18% and 28% under GST. Gold and rough diamonds are not falling under this chart. There will be 3% tax on gold and 0.25% tax on rough diamonds.

 
Click here to see GST official rate chart on Goods.

Click here to see GST official rate chart on Services


Taxation format under GST

        

GST Structure

Source: Facebook

Sample invoice format with GST

In case of inter-state transaction, there will be two kind of GST such as CGST and SGST. Suppose GST rate on Butter toast is 12%. In that case 12% GST will be divided as 6% in CGST and 6% in SGST.

In case of outside state transacton , there will be one GST and that is IGST.

Remember your GSTIN No remains same for all kind of GST.


GST Returns ?

Normal taxpayers need to file 3 returns monthly and 1 return yearly.


GSTR 1 ------ Outward supplies of taxable goods/ services ------ file within 10th of the next month


GSTR 2 ------ Inward supplies of taxable goods/ services   ------ file within 15th of the next month


GSTR 3 ------                         Monthly return                     ------ file within 20th of the next month


GSTR 9 ------                         Annual return                       ------ file within 31st dec. of the next fin. year 


Click here  to see the details of GST returns.



Official websites and helplines of GST

GST registration and filing of returns will be done through online.

Click here to see the official websites and helplines of GST. 




Is Digital Signature mandatory for GST registration and return filing ?

Digital signature is mandatory for Companies and LLP's. All other entities can either use DSC or E-sign to authenticate their document in GST portal.

Click here  to read in details about Digital Signature Certificate and Esign.


 

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