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- Best GST tax invoice format with explanation
The GST tax invoice is the most important document in GST regime. This is grand father of all document. This document can be panacea of indirect tax. Govt. thinks this document shall end corruption when filed in GST Network. Computers will work overnight to match invoice with invoice. This system hopes to weed out bad eggs.
Buying of invoice was huge set back in VAT system. Again hope this business of selling only invoice without selling goods dies in GST era.
Only 3 countries of this world has tried matching of invoice before abandoning it completely. 1. China. 2. South Korea and 3. Brazil. Reasons need to be analysed.
In this video you will understand the most important content which should be there in invoice.