In common parlance, Invoice indicates the amount receivable by the person issuing the invoice from the person to whom the invoice is issued. However invoice used under GST framework is tax invoice which contains statutory details as prescribed under CGST/SGST Act and Rules framed thereunder. Section 2(66) of CGST/SGST Acts, defines Invoice as a meaning assign to under section 31.

Refunds under GST

Under a Self-Assessment tax governance system, it is an obligation of a taxpayer to discharge its tax liability along with interest and penalties. In discharging of this obligation, several instances occur where the taxpayer deposits it tax in excess or avail its entitlement less. Under those circumstances, the, taxpayer is entitled to get refund of the amount of excess deposited to government exchequer.

Registration in GST

If you are carrying out any business and have an annual aggregate turnover in the preceding financial year exceeding Rs. 20 lakhs (Rs. 10 lakhs in Special Category States), you need to register in all States/Union Territories from where you are making taxable supplies. However, you need not register if you are engaged exclusively in the supply of exempted goods or services or both.