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invoice

sukanya suku (16 Points)

25 July 2017

without issuing invoice trader can do business
if yes what is the limit and what are the rules involved in it?

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2 Replies

Sandeep Upadhyay (1518 Points)
Replied 25 July 2017

With out invoice only barter i.e exchange can be carried on

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naveen (CS) (214 Points)
Replied 25 July 2017

Sukanya,

there is a scheme under GST called composition scheme. If your annual turnover is below of 75 Lakh then you may opt composition scheme. So, you need not required to issue invoice.

Rate are below if:-

you're a manufacturere (other than manufacturere of notified goods) then required to pay GST @ 2% (1% for CGST & 1 % for SGST)

you're supplier of food or any other article for human conumption or any drink (other than alcohlic liquor for human conumption) then required to pay GST @ 5% (2.5 % for CGST & 2.5% for SGST)

or you're other supplier then required to pay GST @ 1% (0.5% for CGST and 0.5% for SGST)

and file GSTR-4 on or before 15th of Next Month.