GST Invoice

There are some apprehensions in the trade circles that GST invoices have to be issued as per prescribed format and that issuing invoice is going to be burdensome process.This is not correct.Some important facts about GST provisions relating to invoice are highlighted for information of all stakeholders.

Important Facts about Tax Invoice

What is the need of GST invoice ?

From 1st July, 2017 GST will replace Central and State level indirect taxes like VAT, Service tax, Excise etc. Businesses that are registered under VAT or Service Tax need to migrate to GST as per the enrollment plan of State Government. Under this plan, iSPEEDTax GST experts will guide you on the applicability and compliances under GST for your business. They will assist you on the procedural formalities to get registered and secure your Goods and Service Tax Identification Number (GSTIN). Initially the applicants will be granted provisional registration under GST and later permanent registration will be granted in line with government guidelines.

Advantages of GST Invoice

  •  Improved cash flow.

  •  Extend payment terms with confidence.

  •  Easy qualification requirements.

  •  Quick funding.

  •  Simpler application.

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