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GST - Tax Invoice

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Ved : In the invoice we see some new words, please explain them.

Teacher : CGST and SGST are two components of GST. CGST is Central Goods and Service Tax which is to be paid to the central government. Whereas SGST is State Goods and Service Tax which is to be paid to the state government.

Ria : What is in the right most corner with a long queue of numbers and alphabets?

Teacher : It is GSTIN, dealer’s indentification number. (GSTIN- Goods and Service Tax Identification Number). GSTIN is mandatory for the dealer whose annual turn over in previous financial year exceeds rupees 20 lacs. You know that PAN has 10 alpha-numerals, similarly GSTIN has 15 alphanumerals. It includes 10 digit PAN of the dealer.

e.g. : 27 A B C D E 1 2 3 4 H 1 Z 5

Jennie : There is a word HSN code in the tax invoice.

Teacher : All Goods are classified by giving numerical code called HSN code. It is to be quoted in the tax invoice. Full form of HSN is Harmonized System of Nomenclature.

Joseph : As usual there is name of the shop, address, state, date, invoice number, mobile number and e-mail ID also in the tax invoice.

Teacher : Now we will see how the GST is charged for each product (Goods) in the bill. Observe the given bill and fill in the boxes with the appropriate number. Price of 1 kg of Pedhe is  400, therefore cost of 500 gm. of Pedhe is 200.

  •  CGST at the rate of 2.5% is Rs. _____and SGST at the rate of ______% is Rs. 5.00.
  •  It means that the rate of GST on Pedhe is 2.5+2.5=5% and hence the total GST is Rs.10.
  • The rate of GST on chocolate is % and hence the total GST is____Rs.
  • Rate of GST on Ice-cream is %, hence the total cost of ice-cream is_____
  • On butter CGST rate is % and SGST rate is also %. So GST rate on butter is ____%.

Aditya : Rate of GST on bread is 0 %. The rate of CGST and SGST is same for each product.

Ninad : Rates of GST are different for diferent products such as 0%, 5%, 12%, 18% and 28%.

Teacher : These rates are fixed and prescribed by the government. Now let us observe the tax invoice of services provided. Fill in the blanks with the help of given information.

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