Key Features of a GST-Compliant Invoice Maker
A GST-compliant invoice maker for India must handle specific tax regulations to ensure legal adherence. Look for tools that allow you to accurately input and display your GSTIN (Goods and Services Tax Identification Number) and the recipient's, which is crucial for input tax credit claims. The system should facilitate the inclusion of HSN (Harmonized System of Nomenclature) codes for goods and SAC (Service Accounting Codes) for services, typically 4 to 8 digits long, depending on your turnover. It must also differentiate between interstate (IGST) and intrastate (CGST/SGST) transactions, automatically applying the correct tax rates and displaying them clearly on the invoice. Essential fields like invoice number, date, supplier and recipient details, item descriptions, quantities, rates, and tax amounts should be standard.