With an increase in investment taking place in India, there are a large number of foreign transactions made every day between foreign and Indian businesses. For businesses intending to invoice clients in India, it is important that they follow the correct format and procedures when issuing invoices.
All taxable transactions in India require fully compliant GST invoices for the same of goods and/or services. An invoice not only evidences the supply of goods or services but is also an essential document for the individual to avail Input Tax Credit (ITC).
When issuing GST invoices, it is also worth bearing in mind that multiple copies are required, depending on the nature of the transaction.
In the case of supply of goods, the invoice should be prepared in the following manner:
In the case of supply of services, the invoice should be prepared in the following manner:
GST invoices should be issued in accordance with the following timescales:
GST invoices must include the following details and should be retained for at least 6 years:
When providing an invoice in another country, it’s important to ensure that your transactions are made efficiently and in full compliance with local laws and regulations. INS Global offer solutions to companies with or without an entity in India to invoice their clients. We play an intermediary role between you and your clients in India, allowing us to issue invoices that are 100% compliant with Indian regulations. Contact us today to simplify your invoicing process today.