The government held its second GST “masterclass” on this Friday, aiming to clarify the queries and confusions on GST adaptation. (Read here about the first masterclass).

It was clarified by the Revenue Secretary Hasmukh Adhia’s team that there is no pre-curated format or performa that need to be followed under GST regime. However, details that need to be included on the invoice have been enlisted, which include the GSTIN (GST Identification Number) of the trader and the amount of the bill with the CGST (Central GST) and SGST (State GST) demarcated clearly.

It is not compulsory for traders to issue digitised bill, as a manual invoice will also hold good, as long as it carries the above mentioned necessary details.

In another major announcement, the government said that issuing an invoice is not necessary if the transaction is of below Rs 200. However, the trader needs to furnish an invoice in case the consumer insists on it or the transaction is B2B (Business to Business).

The team reiterated that if GSTIN is not yet available, then a businessman can use your Provisional ID to generate invoices.

Briefing about a new feature, Adhia said that a ‘Search’ box has been added in the official GST website where traders can look up for the HSN (Harmonised System Nomenclature) code and the applicable GST rate for a good or service.

Source: TIMESOFINDIA.COM