Credit note
A document recording a reduction or correction linked to an earlier supply or invoice.
Definition & exampleBusiness wiki · Topic
GST and invoicing terms
Decode GST registrations, invoices, credits and returns before using the detailed compliance guides.
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12 terms. Showing 1–12.
Selected: GST and invoicing
E-invoice
An invoice reported through the prescribed GST invoice registration process, when that process applies.
Definition & exampleE-way bill
An electronic document associated with specified movements of goods under GST rules.
Definition & exampleGSTIN
The identification number associated with a GST registration.
Definition & exampleGSTR-1
The GST statement used to report outward supply details for the relevant period.
Definition & exampleGSTR-2B
A portal-generated statement used when reviewing input tax credit information for a tax period.
Definition & exampleGSTR-3B
The summary GST return used to report relevant liabilities and input tax credit and discharge tax for a period.
Definition & exampleHSN
The goods classification system used to identify products in customs and GST contexts.
Definition & exampleInput tax credit
Credit of eligible input tax, subject to the applicable legal conditions; matching a portal record is only part of the analysis.
Definition & exampleLetter of undertaking
An undertaking used for eligible zero-rated supplies without payment of integrated tax, subject to the applicable conditions.
Definition & exampleReverse charge
A GST mechanism under which the recipient pays the tax for specified supplies instead of the supplier paying it in the usual way.
Definition & exampleSAC
A code used to classify a service for GST reporting and related tax analysis.
Definition & example