DELHI METROPOLITAN EDUCATION

NAME: NEERAJ SINGH BISHT

E No. : 40951101717
BBA 5th sem. (B)
Email: Surajbisht26june@gmail.com
Subject: Goods and Service Tax (Assignment no.1)
1.Write a short note on Tax Invoice under GST

A tax invoice is a legal document that a seller submits to a customer in which the tax is included
or a document (in India) from a registered supplier to a registered dealer.

For GST countries

Under the GST (Goods and Services Tax) system, a tax invoice is similar to a standard invoice.
The minimum requirement for issuing a tax invoice is different in varying GST countries. For
example, in Australia, if your taxable sale is higher than $82.50 including GST, you have to
submit a tax invoice to your GST-registered customers so that they can claim a credit for the
GST.

Your tax invoice should include:

 the words 'tax invoice' clearly displayed
 the Sellers identity and business number
 the invoice Date
 a description of the items, their quantities and price
 the GST applied for each item
 the total amount including GST
Different countries may have different requirements for what information a tax invoice should
contain.

Tax invoices in India

For India, a tax invoice is a legal document that a registered dealer (the supplier) sends to the
another registered dealer (the purchaser) once a sale has been made. The purchaser is not the
consumer (the end user) and therefore a tax invoice is used. If the product or service is sold to
a consumer, a retail invoice should be used.
 This tax invoice should include the following:
 the invoice number and date of issue
 the names and addresses of both the buyer and seller
 the Tax Identification Number (TIN)
 the quantities and unit prices for the items sold
 the total amount
 the tax charged
 the signature of the authorized signatory
2. Distinguish between Interstate and Intrastate supplies under GST

GST Interstate vs Intrastate Supply Meaning

In GST, the terms interstate and intrastate have tremendous significance in the determination
of IGST, CGST or SGST. Interstate supply attracts IGST, while intrastate supply attracts
CGST and SGST. In this article, we look at the definition of interstate supply and intrastate
supply as per GST Act.

What is Interstate Supply?

Under GST, supply of goods or services from one state to another would be called as
interstate supply. The GST Act defines interstate supply as when the location of the supplier
and the place of supply for the customer are in:
 Two different States; or
 Two different Union territories; or
 State and a Union territory.
In addition to the above, the supply of goods imported into India, till they cross the customs
station is also classified as interstate supply. Also, supply of goods or services to or by a
Special Economic Zone developer or a Special Economic Zone unit is classified as interstate
supply.

What is Intrastate Supply?

Under GST, supply of goods or services within the same state or Union territory is called as
intrastate supply. However, supply of goods or services to a Special Economic Zone
developer or Special Economic Zone unit situated within the same state would not be
intrastate supply. As any supply of goods or services to a Special Economic Zone developer
or Special Economic Zone unit is classified as interstate supply.

GST Interstate vs Intrastate Supply

Under GST, interstate supply attracts Integrated Goods and Services Tax or IGST. Intrastate
supply attracts both Central Goods and Services Tax (CGST) and State Goods and Services
Tax (SGST). In the case of intrastate supply, the GST rate for the goods or services would
remain the same. However, the GST rate and tax amount are divided equally into the two
heads namely SGST and CGST.
For example, if a Rs.1,00,000 worth laptop is sold by an electronics store in Maharashtra to a
customer in Karnataka and the applicable GST rate is 18%, then Rs.18000 IGST would be
applicable. If the laptop is sold by an electronics store in Maharashtra to a customer in
Maharashtra, then CGST or Rs.9000 and SGST or Rs.9000 would be applicable.