Yes. The invoice number series should be separate for Bill of Supply invoices and Tax Invoices. The Tax invoice number is a consecutive serial number not exceeding sixteen characters, and

Continue ReadingShould the invoice numbers be different series for Bill of Supply and Tax Invoices?

Yes, one single invoice can contain both taxable and tax-exempt line items. However, this will be a ‘Tax Invoice’ (and not a Bill of Supply). The taxable portion of the

Continue ReadingCan there be one invoice for both taxable and tax-exempt services for Housing Societies?

[Last updated on July 14th 2017] As per the clarification provided by Govt in this press release http://pib.nic.in/newsite/PrintRelease.aspx?relid=167386 on 13th July –  GST needs to be levied on members only if

Continue ReadingShould a Housing Society register for GST even if all members pay less than 5000/- per month?

GST specifies the invoice formats that an entity should use when issuing invoices to customers. There are two types of invoices : 1. Tax Invoice 2. Bill of Supply Tax

Continue ReadingGST Tax Invoice vs Bill of Supply for Housing Societies

If your Housing Society is coming under the purview of GST,  as per section 15(2)(d) of GST act, you need to charge 18% GST on Late Payment / Penalty charges

Continue ReadingIs GST charged for Late Payment / Penalty Charges in Housing Societies?