Special Cases: Goods and Services Tax Invoices Format RelaxationsGoods and Service Tax invoice is a commercial bill of sale issued by the sellers to recipients of products or services. According to section 31 of the CGST Act, it is mandatory to issue tax invoices for any goods or services supplied. The GST law has specified rules as to how a business must issue an invoice. However, there are certain exceptions where the law provides definite relaxations.

The article will provide you a concrete understanding of special cases under which GST e-invoice format relaxations are applicable.

GST Invoice Format Relaxation Under Special Cases

Under the GST Regime, a tax invoice is a crucial document that provides precise information on GST amount, quantities, shipment data, mode of transport, delivery, and payment terms. GST bill of sale is vital for any business owner to avail ITC (Input Tax Credit).

The GST Council of India has ruled out a standardized format for tax invoices. However, rule 46 for tax invoices under GST, has prescribed relaxation for specific special cases. That include:

Format of Tax Invoices for Supply Made by Insurance Companies, Financial Institutions or Banks

When a tax invoice or bill of supply is issued by suppliers such as banks, non-banking institutions, or other financial companies, the following relaxations are provided under rule 46 of GST law.

The relaxations mentioned above are applicable only for the following special cases –

Format of Tax Invoices for Supply Made by (ISD) Input Service Distributor

The format of an ISD credit note is slightly different from that of a regular tax invoice. Here’s what a tax invoice format on ISD supplies must include.

The relaxations mentioned above need not be serially numbered. It is applicable only if an ISD is a –

Tax Invoicing for Common Code Bearers

In case the distributor and recipient have the same PAN code and State code, he can issue a tax invoice or credit/debit note with transferring standard input services to ISD. Any such invoice must contain the following details.

Format of Tax Invoices for Supply Made by (GTA) Goods Transport Agency

A GTA or Goods Transport agency can issue GST invoices as per the specified considerations under Rule 46. However, the supplier must include some additional information which consists of the following pointers.

Format of Tax Invoices for the Supply of Passenger Transport Service

For the supply of Passenger Transport Service, the registered person must issue an invoice that includes ticket details. There are a few exemptions on relaxations provided for the supply of Passenger Transport Services.

However, the tax invoice format must include all the other considerations mentioned under Rule 46 except the two exemptions mentioned above. It can either be issued digitally or physically. A signature may not be required on digital invoices.

What Online Accounting Software Supports Tax Invoice Format Under Rule 46?

The supply of goods and services are chargeable under GST. A GST invoice indicates the time of supply. Thus, businesses need to issue GST compliant invoices.

Imprezz GST billing software enables you to automate invoice processing. The customized, updated invoice templates allow businesses to generate e-invoices under exceptional cases.

Imprezz.in is an all-inclusive, comprehensive invoicing software that supports filing GST compliance in just a few clicks. Businesses can automate e-invoicing GST returns and avail tax credits through our accounting software. Subscribe and ease your financial workflow in no time. Benefit from the accounting solutions and forecasts in the long run.

Conclusion

The government has provided relaxations on GST invoice format under special cases to ease compliance procedures for small businesses in India. Registered enterprises must follow the GST invoice rules and scheme as per the notifications alerted by the GST council.

Is your business eligible for invoice format relaxations? Simplify invoicing with Imprezz.in, the best accounting software for small businesses in India. We offer a 14 days free trial software program. Start tax invoicing today!

Imprez.in Now Launches Import Functionto Rationalize Accounting Solutions.

Imprezz is an all-in-one accounting software for small businesses, freelancers and solopreneurs. The exciting new feature makes it highly integrated. The updated import function on the software aims at simplifying your accounting operations. Imprezz manages everything from your business accounts to taxes and payments. The newly released feature now enables you to import the customer list along with other articles.

Despite being the leading accounting platform, Imprezz strives to bring in new additions to streamline accounting aspects. Sync your customer data in justa few clicks. The import accounting solutions stimulate functionalities to efficiently manage multiple users, locations, transaction data, and inventory workflow.

Read further to know how to import the customer list and other articles on Imprezz.in. In case you want solutions to any accounting problems, you can always reach out to the Imprezz support team. Our experts will guide you through importing your business data in no time successfully.

Import your customer lists directly to imprezz accounting software

Innovation is the soul of any company. At Imprezz, we are determined to focus on what matters the most to our customers. We believe that addressing each accounting detail makes new features come alive. Our uniquely designed features provide comprehensive solutions that integrate various aspects of business accounting, enhancing speed and performance.

Imprezz has successfully integrated a wide range of accounting processes into a single database. Besides being an all-inclusive accounting software, it is customizable and scalable, making accounts management a breeze. Several businesses now bestow their trust in Imprezz for all their accounting needs. And on their request, we have now made import functions exclusively available on our software.

How to Import Customer List on Imprezz.in

The Import feature is a swift way to upload your client’s data into Imprezz.in. It allows you to transfer various articles and customer lists from a wide range of accounting packages available on the software.

Note: In order to quickly upload your client’s data, copy the file into your computer hardware. Even though you work offline to copy the data, your status will be brought online to perform the import tasks. All your import functions are automated.

Here’s a complete guide to importing your customer lists and other articles directly to Imprezz accounting software.

Yes, it’s easy to import a wide range of accounting data on Imprezz. All it requires is a single click of a button. The feature allows you to import Customers, Products, Vendors, Services, Sales Entries, Expenses, Opening Balances, and various other articles. The process of importing any data remains the same. The data uploaded is used to prepopulate invoices and vendor bills. Rid of the multiple procedures of importing files on other accounting software. Automate your import functions onImprezz in just a few clicks.

Save your time by automating the incorporation of business information with imprezz

Key Features of Import Functions on Imprezz.in

The Import function’s key features enable you to automate the incorporation of business information throughout the software. You need not reenter each article individually. It can be a great time saver for business owners.

Key Features of Import Functions on Imprezz.in

About Imprezz.in

Imprezz.in is a cloud-based bookkeeping software, featured concerning demands of its users. It has been helping businesses to expand in a shorter period. Most business owners subscribe to the software as they want all-inclusive accounting software to grow with their business. The software has become a primary choice for small enterprises in India for its built-in operational controls and reports.

Imprezz GST software offers a wide range of accounting operations. It supports features like workflow management, hassle-free GST returns filing, customizable templates, advanced accounting features,auto email, and outstanding management, to name a few. The company aims at providing accounting services that are a mix of easy to use functionalities and GST compliance.

Latest Update in GST Invoice Rules - Covid 19

The government of India has rolled out several tax reliefs and measures, concerning the impact of GST on Indian economy due to COVID-19. The GST council has implemented strict GST Invoice rules to curb tax evasion. E-invoicing GST is compulsory for businesses, starting from 1st October. Find the details of this latest update in the article below.

Mandatory E-Invoicing of GST from 1st October– Updated GST Invoice Rules

The government has advanced towards taking steps to improve tax compliance in the country. E-invoicing GST returns filing is now mandatory for businesses with a threshold limit exceeding RS 500 crores.

Earlier, e-invoicing was compulsory for businesses with a turnover limit above 100 crores. However, it is changed due to the recommendations of panels of the GST (Goods and Service Tax) council.  In turn, the updated GST invoice rules aim to exempt small businesses in India from the implications of tax filing.

The decision was ruled out by the GST Implementation Committee on behalf of the Central Board of Indirect Taxes and Customs (CBIC). Although e-invoicing GST returns is dated to start from 1st October, the QR codes are said to be unavailable. However, businesses can work on it as per the current scheme and relevant notifications released by the government.

The CBIC is striving to improve the existing GST returns filing system. Parameters such as export under GST invoices and e-way bills are likely to be missing in the new model. Thus, the council has assured us to notify the upcoming changes shortly.

E-invoicing GST returns with Imprezz.in

Concerning the ongoing technological transformations, businesses might get hurt if they refuse to adopt digital operations. Implementing the best accounting software for small businesses is the first step towards rightly digitalizing your business. You can not only file returns but reap various other benefits by subscribing to Imprezz. Our online accounting software enables you to create and send invoices that are electrically authenticated by GSTIN.

Get rid of manual data entry, double entries, accuracy checks, proofreading, and other accounting hassles. Implement Imprezz invoicing software to automate your bookkeeping tasks. The standardized GST tax invoice format available on the software enables you to file tax returns with the single click of a button.

Conclusion

In a nutshell, several measures and reliefs are ensured to provide relaxation for businesses during these tough times. The government is continually amending the GST invoice rules to ensure advanced and simpler compliance mechanisms. It is a smart step towards reducing the possibilities of survey/audits, fraud GST invoices, and many such problems.

Taxpayers must generate GST e-invoices and submit them to the Invoice Registration Portal (IRP). To ease filing GST returns, you can implement the best accounting software in India, Imprezz.in. We offer a 14 days free trial software program with updated GST invoice templates. Login to better understand the utilities before purchasing the software.

Importance of Quotations and its impact to your business

Small companies in India may attract more customers if they know how to create a quotation online that works for them. Many company owners are unaware that the manner in which they generate quotations online may cost them money. They don’t follow up on quotations or turn them around quickly enough, resulting in revenue loss.

SME’s encounter a number of financial difficulties, including maintaining a healthy cash flow and turning invoices into payments. Making the quotation generation process automated efficient and professional  may help them  get rid of delayed customer acceptance, right away! Simultaneously, it aids companies in receiving payments more quickly, thus increasing cash flow.

Having a hand in generating quotations that your customers approve may thus make all the difference. Imprezz, India’s best software for quotation management will enable you to automate end-to-end order processing starting from  creation of enticing , professional quotations online, that your customers won’t be able to ignore to converting the quotations into invoices wit a click.

Here in this blog, you will get to know 8 simple tricks of creating professional yet simple quotations that will impress your clients.

 

What is a Quotation?

Before we get into the details of how to make a quotation, let’s just understand what a quotation is all about – A quotation is a document that companies send to their prospective customers to offer their products and services at a set price and terms. Typically, quotes contain a detailed scope of work and also offer an estimate for deliverables.

Unless they are stated as an official part of a contract, quotations are not legally enforceable documents. When a customer accepts a quotation, they are obligated to complete the transaction at the agreed-upon price.

When Should Businesses Send a Quotation?

Clients often request quotations from companies when they want to learn more about the products or services before buying them.

Quotations must be sent within a few hours of the desired time. Customers who are interested in purchasing a certain product seek quotations from multiple companies; the one that responds the quickest, usually wins.

Simultaneously, companies must be able to correctly assess expenses and profit margins. To prevent delivering incorrect sales quotations to your customers, automate your quotation procedures with the help of an online quotation generator, like Imprezz (imprezz.in). Because a quotation is not a legally binding document, do not give exaggerated costs.

How to Make Quotation which Your Clients Accept –8 Simple Steps

A quotation may be in the form of a written document or a spoken suggestion. For companies to land on prospective customers, creating quotations and successfully managing quotation procedures is critical.

You can rapidly land a new business by automating quote procedures. It has the potential to boost overall company growth. Here are eight easy steps to creating a quotation online that customers will accept. A quote may be in the form of a written document or a spoken suggestion. 

  1. Select an Imposing Template

Generating quotations is a journey of discovery. It is more professional and impressive to use a standardized quotation format. You may create detailed quotes and modify specifics using templates that your customers will like.

On an online quotation generator, you may get a variety of sales quote templates. To create sales quotations, most Indian companies utilize bookkeeping or an online accounting software like Imprezz.

You may also use an accounting software to provide estimates. Imprezz has a cloud-based estimating function that allows you to create estimate quotations. You may send it to customers directly through email. Your customers may approve quotations automatically using this feature.

  1. Add Client Information

A comprehensive quotation helps people understand your goods and services better. To make your quotations seem more professional, you should add the following information.

  • Business Name
  • Company Address
  • Contact Number
  • Fax Number (If any)
  • Email Address
  • Contact Name and Title

However, don’t forget to include your contact information in the quote.

  1. Add Quotation Number

When you make quotations online using an accounting software, it creates a number for you automatically. However, the program must provide the ability to change the quotation number if necessary. Imprezz makes it seem so simple.

  1. Enter the Date of Issue

The issue date is the day on which you will submit your quotation to your customer. Because a quotation is typically only valid for a short period, including the “date of issuance” is critical.

You may also indicate whether or not your quotation is accurate. However, if you want, you may prolong or shorten the period specified.

  1. Include Your Products and Services

Under “line items,” list the goods or services you’re quoting. The products, product number, quantity, unit price, and total cost per item should all be described.

Separate the goods and services related to the various phases of a project. It’s also possible to separate labour and material costs. Imprezz provides you with industry-specific quote templates.

The picture below shows the pre-built Imprezz quote templates that are specifically tailored to the various industry kinds.

Prepare a cost breakdown. Include no information that isn’t related to the project. Add the expenses together to get your subtotal. Don’t forget to include any relevant taxes in the total.

  1. Mention the Terms and Conditions

You may indicate potential project modifications by mentioning terms and conditions. As a small company owner, you must clarify the product’s extra costs. Describe the circumstances under which extra charges may be imposed.

Mention how and when you’d want to be compensated for the work. Include payment methods and information. If you anticipate an upfront deposit for the job, let them know ahead of time. You have the option of receiving full payment upon completion or half payment up advance and half payment when the job is finished.

  1. Include Notes

In the notes, you may provide any extra information. It’s a great location to put information like the current time and expected finish date. Summarize the scope of your project, express gratitude for the chance, and inform your customer that you are eager to work with them.

  1. Add Optional Details

It’s possible that you wouldn’t want to provide precise details in your quotations. It is, nevertheless, a good idea to add some optional information. In your quotations, you may include the following components.

  • Purchase Order Number (The one you receive from the client)
  • Discount
  • GSTIN – Your Sales Tax Number
  • Signature

The mailing function of Imprezz.in is shown in the picture below. Once you’ve finished generating a quotation, you may send it to your customer straight from the Imprezz accounting software. Check your quotation’s spelling and grammatical correctness. Check that all of your calculations are correct. You may send the quotation to your customer after you’ve done all of the procedures listed above.

 

How to Format Quotations

There are no legal requirements for how a quotation should be formatted. You may, however, use some basic formatting when generating a quotation online. The majority of companies choose to use quotation forms that are comparable to their invoicing formats.

It’s a win-win scenario if your accounting software allows you to generate quotations and invoices on the same platform.

The image below shows Imprezz.in’s single dashboard feature, which allows you to create standardized quotes, customized quotes, and GST-ready invoices all on the same platform.

 

It is required that you use a template that says “Quotation” or “Quote.” It allows your customer to identify the quote apart from other papers.

The date, quotation number, and client information must all be included at the top. The product information and pricing may then be entered. Always include your company’s contact information at the bottom of the quotation template.

Make sure your quotations are simple to read by using clear fonts and a well-designed layout. Personalize the quotation format by including your business logo. Always keep in mind that your logo should represent your company’s image.

Make sure your quote appears great when printed, even if you’re sending it. A printed record may be desired by certain clients. Check to see whether your quotation will fit on an A4 sheet. If necessary, attach files individually.

You may use an online quotation generator to automate all of your quotation procedures. It makes it simpler to come up with interesting quotes. It also assists you in keeping track of quotations given to customers.

Quotations v/s Proforma Invoices

Understanding the difference between a proforma invoice and a quotation is critical for any company. A proforma invoice is an unofficial document provided to a customer before the final details of the project are confirmed.

A proforma invoice is often used at the same time as a quotation in the sales process. A proforma invoice and a quotation, are designed for distinct reasons. In most cases, a quotation is given to a customer in response to an enquiry. A proforma invoice is issued when a customer wants further information.

In a nutshell, quotations are provided to potential customers, and proforma invoices are issued after the client has made a purchase commitment. Proforma invoices are used when a company cannot issue a real invoice because the sale is still pending.

 

Quick Tips on How to Make Quotation Which Your Clients Accept

  • Create an accurate sales quotation 
  • Send a quotation within 24 hours 
  • Include a quoting engine on your website 
  • Follow up regularly after you’ve sent a quotation
  • Always ask prospective consumers questions and learn from your errors.

 

Advantages of automated Quotations over Manual entry

Request a Quote Immediately

The advantage of using an online quoting tool is that you can get a quote very quickly. It will take some time to manually calculate the quote, and consumers are often in a hurry. Because of the automated process, the quote will be accessible in seconds.

Furthermore, not only will the quotes seem professional, but you will also have documentation of when they were supplied and when the customer viewed them. The most advanced software also shows the status of the quote and whether or not the client has accepted the offer.

 

Accuracy

When manually quoting, it is easy to make a mistake. This involves returning to the beginning and beginning the process all over again. Worse still, you might lose a client. The quickness and precision of an automated quotation will amaze any customer. There is no space for mistake since everything is done automatically.

 

Number of Offers

We can only handle a fixed amount of quote requests each day since we are simply humans. Assume you’ve been assigned a more significant assignment. You’ll have to supply a portion of the quotes late since you don’t have the finances to recruit extra people. This does not offer you a professional look, and the calculating method takes a long time, not to mention having an impact on your potential revenue.

When working with automated software, it doesn’t matter whether you have 2 or 2,000 offers every day. All of the labour may be done by the automated program, and everything will be delivered on time.

 

Report Delivery

You may wish to check at a sales report to see how many customers have sought quotes and how many have accepted them. Manually creating a report requires searching through archives and manually creating graphs and sheets, which might take hours or even days.

When you use automated tools to make a report, you just have to spend a few minutes and click a few times to get a complete analysis of the time period you’ve selected. This will allow you more time to go through the report and make any modifications that are needed in the future.

 

Creating Quotations Made Easier with Imprezz

Managing your finances through spreadsheets can be stressful. It curbs the business accounting workflow. It is vital to have access to all your financial data at your fingertips.

With Imprezz, you can see the summary of quotes in progress. You can see whether it is a draft, sent, accepted, or expired quotation. With Imprezz, it is easy to track your quotes, automate the follow-up procedures, and keep your business on track.

You can automate quotation processes on Imprezz.in. Create a quotation in just a few clicks. Worry no more, send standardized quotes with no hassles.

 

Conclusion

Sales does not have to be a difficult process. Determine your unique selling proposition, set a reasonable price for your product or service, and sell. It’s that simple!

Never go head-to-head with other bidders. Try to figure out what you’ll need to verify your project’s authenticity. Then adjust your margins as needed.

We hope that our detailed advice on how to create a quote that your customer accepts has been of use to you.

Do you want to automate your bookkeeping chores using accounting software? Imprezz.in allows you to quickly create quotes. For small companies in India, we provide a 14-day free trial software package. Begin immediately!

How to Select the Best Accounting Software

Tracking transactions is vital for any business to succeed in the near future. Enterprises require the best accounting software to record income and expenses precisely. Today’s advanced invoicing software also enables business owners to file GST compliance in just a few clicks.

Accounting software for small businesses enables you to accomplish the daily accounting tasks. It effectively records payments, invoice customers, track expenses, reconcile transactions, and much more.

GST invoice software provides insights and invoicing solutions that stimulate your business performance from multiple dimensions. You can better focus on other growth aspects of your business by automating your bookkeeping tasks. But selecting the best billing software for your business can be challenging.

There are various options for accounting software available in the market today. Each one of them offers different features and pricing plans. To avoid any sort of confusion, you need to filter all the criteria.

In this article, we have coupled a list of key considerations that might help you invest in India’s best accounting software.

Important Factors of the Best Accounting Software

1. Online Accounting or Offline Accounting

As a business owner, you must first decide whether your business requires online accounting software or an essential desktop-based, offline software. It entirely depends on your business requirements.

Few businesses prefer online/cloud accounting software for effective automation. They offer several competitive advantages over traditional offline accounting software. In contrast, companies that mostly operate without connectivity can opt an offline software such as POS (Point of Sale).

Why Does Your Business Require a Cloud-Based Accounting Software?

Small businesses in India struggle with the cut-throat competition out there. Business owners must be able to focus on other managerial tasks. A cloud-based accounting software saves installations charges, time, and costs. You can sign in and directly get started with entering your transactions.

Online accounting software is always updated. You can access all your financial data from any device connected to the internet, work from anywhere, and restrict access according to your preferences. Businesses can save costs with cloud backup and maintenance features.

For synchronized access and integration, one must select a cloud-based accounting software. It simplifies your business workflow with effective automation. The comparative advantages of cloud accounting can help you stand out among your competitors.

When Does a Business Require Offline Accounting Software?

For businesses like retail stores, desktop-based software works well. Their business requirement is limited to invoicing over the counter. They do not require connectivity at their business location.

If your business category is different from that of a retail store, go for cloud-based accounting software. Secure your business data control your finances at your fingertips with online accounting software.

2. Data Security

Your finances determine the sustainability of your business. Thus, ensuring data security plays a vital role in managing your finances. If you are selecting online accounting software, you must consider having a precise checklist.

Most online software manages accounting data over their websites. You should consider asking your service provider about the security measures they take to ensure your business data security.

You can review the security certificate of the server your accounting application hosts. Make sure that the data transferred from your device is encrypted. Encryption ensures that your financial data is not hacked or viewed by an unauthorized person or entity.

3.Features

Features are one of the main factors you must consider while choosing the best online invoicing software for your small business. Here’s a quick checklist of essential features that an accounting package must include.

What Additional Features Should You Look for in the Best accounting software?

Now, make a detailed list of essential features according to your business requirements. Review all the features before making your final decision.

4. User Interface & Complexity

You need not be an accountant to handle your business accounting. In case you have an accountant to manage all your accounting tasks, you should know how to log in and use it. It should be user-friendly for employees or accountants to learn the software in no time. It will rid you of training costs.

You needed not to subscribe for features that your business does not require. If your accounting software is simply stuffed with all the features, it can be hard for your employee to use it. Thus, choose software that comes with a simple user interface. It will help you and your employees to focus on crucial accounting tasks.

5. Exit Options

Your accounting software must have a feature that provides data export facilities. You must be able to export ledger and other transactions under unfavorable circumstances. However, it is always ideal to check if your accounting software offers backup options at regular intervals.

6. Scalability

Do not restrict your accounting needs. It is most specific for any small business in India to expand with time. When you buy software with limited features as per your current requirements, it might fail to cope up during expansion.

Rid from migrating from one software to another and all the painful data transfer processes. Select an invoicing software that can scale the needs of your growing business. Go for software that has a progressive version concerning the size and type of companies.

7. Hidden Costs

Most accounting software offers lower costs to attract customers. Once you buy the software, you will have to deal with hidden costs. For instance, some software might charge you extra for upgrades, maintenance, or additional support.

Check before you buy any software. Visit the official website and check the pricing page. If the software offers any additional services, you will know in prior.

8. Post-Sale Support

Post-sale support is one of the key features that cannot be ignored while purchasing accounting software. No matter how great the user-interface of the software is, you require premium support at crucial points. Select a software company that you can reach out to when you are stuck.

Most accounting software offers a cheaper price because they do not provide any support. Avoid any such products and rid them of throwing all your investment in vain.

Try calling the support number or reach out to messaging on the company portal. Simply check how well the company responds to your quarries. You will know their support infrastructure instantly.

9. Tax Preparations

Ease your business workflow by hiring an accounting software that automates tax calculation, tax reporting, multiple tax rates, and features like filing GST compliances. It should have the necessary features that allow access to all your financial data under a single system. An ideal tax ready invoicing software will help you file GST returns as per the latest tax rules specified by the government.

10. Automation

Automation is a vital aspect of hiring accounting software. It helps accomplish all your bookkeeping tasks effectively in no time. You can automate your recurring transactions, send a payment reminder email, auto-charge customers, etc.

Ideal accounting software helps capture data from receipts, and effortlessly convert them into transactions. Work on the core business functions while you can automate most of your accounting tasks. Rid of the tedious accounting processes and manual interventions. Choose an ideal accounting software for your start-up.

11. Integration

The integration enables you to work flexibly. Any changes you make are automatically updated, eliminating repeated entries.  For instance, when you link your customers’ information via CRM software, the same will be reflected on your application, so all your employees are on the same page.

Thus, the accounting software you choose for your small business in India must be integrated with a third-party server, CRMs, project management tools, or inventory management system.

12. Payment Gateways

The last but most important feature that an ideal accounting software must include is the payment gateways. It enables your customer to pay instantly by securely integrating payment gateways. It provides multiple payment options like credit cards, debit cards, online bank transfers, and other convenient options.

Once the payment has been processed, the software automatically updates the invoice status in the system. There are various payment gateways available in the market today. Check for a feasible option for your business and ensure that your software connects to a preferred payment gateway.

Imprezz.in – Best Accounting Software

Imprezz, the GST accounting software, is an ideal choice for small businesses in India. It includes all the necessary features mentioned above. You can avail customized subscription packages rather than wasting your money unnecessarily on useless features.

The cloud-based invoicing software supports integration and advanced payment options. Our customer support is available round the clock to ensure your happiness. We provide customizable features concerning your industry or business size and type. Subscribe to Imprezz and ease your accounting task management.

Steps to Select the Best Accounting Software

1. Discuss with Your Accountant or Employee Who Would Use the Application

Your accountant or employee knowns your accounting needs better. It is ideal to talk to them to understand better which accounting software is suitable for your business needs. Discuss and make a checklist that will determine the best choice.

2. Pricing and Budget

Knowing your budget will automatically streamline your options. Most bookkeeping software comes with different prices and packages. Look for an overall plan that fits your budget.

3. Shortlist Your Options

Google is our next mother. It should be the first point where you start your research for the best GST accounting software: checkout software comparison sites and testimonials. Create a shortlist of software programs that you like the most.

4. Request a Demo

You can request for a demo on the software provider’s website. Ask questions concerning your niche while you take a demo. Precisely watch the application walkthrough videos if there are any available on the site.

5. Start a Free Trial

Do not purchase software before taking a free trial. It will give you a clear idea about the software and its functionalities. Enter some dummy financial data to check the accuracy of the financial reports. If the software meets all your requirements, you can go ahead and purchase it.

Mistakes to Avoid While Purchasing the Best Accounting Software

Conclusion

Selecting an ideal accounting software for your business can be overwhelming. Once you invest in accounting software, migrating can hurt your business. Instead, spend your time looking for the best option out there.

Are you searching for the best billing software in the market? Imprezz.in is a one-stop accounting solution for all your accounting needs.

Do you want to cross-check the capabilities of the software? Start a 14 days free trial software program on Imprezz. Log in and start your accounting right away!

Impact of GST on Indian Economy during COVID-19The GST council of India has completed three years of the GST regime. However, the government is still striving to address various issues and concerns to build a sound taxation system. While the government was resolving downsides concerning the impact of GST on the Indian economy, the COVID-19 pandemic has worsened it.

The global pandemic has wrecked the world’s economy. Several countries are striving to cope with the impact of COVID-19 on businesses. India’s government has notified several economic relief measures, and tax calculation changes for companies registered under the Goods and Services tax regime.

Concerning the ongoing crisis, experts believe that the chances of businesses experiencing negative growth in India are extremely less. Currently, enterprises are resuming in the country, and the economic growth trajectory will be restored by 2021. The government is primarily focused on the GST implications of COVID-19.

In this article, you will read more about the potential impact of GST on the Indian economy during the COVID-19 pandemic.

GST Implications Amid COVID-19

The deadly COVID-19 pandemic has led to the loss of innocent lives, steepening the economy globally. It has left people with no shelter, food, job, or hopes. The severe economic impact has collapsed various industries and businesses.

The pandemic has created a new world of uncertainty. The economic standstill is said to recess a large part of the world. Several countries were striving to recover the low economic growth of 2019 in the current year. But COVID-19 has made it impossible for individual countries to stand back again.

The good news is India has always had fast recovery concerning the economic crisis in the past. Industries, large enterprises, and small businesses in India are hoping for a quicker economic recovery in this case as well. Here are some of the GST implications notified by the government during COVID-19.

Extended Due Dates

The finance minister, Nirmala Sitharaman, announced the extended due dates to File GST compliance. The government took up a step by step implementation of the new announcements. The ordinance was brought on 3rd March 2020, followed by the notifications released on 31st March 2020.

Besides, the GST council also released several relief measures to provide relaxation to businesses. The government made it mandatory for businesses to e-invoice the GST tax invoice format to simplify filing GST returns. The notifications and circulars issued on 3rd April 2020 came with several benefits for delayed returns filings and other provisions under the GST regime.

We have listed the extended due dates in detail. Click here to know more about updated due dates and other tax calculation changes during COVID-19.

Note: Under circumstances where returns are filed after the beneficial dates given by the government, late fee along with an interest rate of 18% will be charged. It is vital to know that the extended due dates are applicable only for the current fiscal year. These benefits are not notified under the Income Tax Act (ITA).

Impact of GST on Indian Economy – Ongoing Contracts

Concerning the ongoing contracts, there are several cancellations or reductions in prices due to the impact of GST on the Indian economy. Below mentioned are pointers of the same.

        1. Goods: Credit Notes for Goods Returns

Under the newly notified GST announcement, Income Tax Credit or Credit notes can only be claimed if the reverse ITC amount of the recipient is available on the GST portal in GSTR-2A.

Taxpayers can issue credit notes within six months from the end of the fiscal year or on the date of filing annual returns. It is up to the convenience of the taxpayer. However, a credit note cannot be issued if the taxation on specific supplies mentioned has been passed to some other person.

In case there is no tax liability, taxpayers can avail of the refund. A credit note against the same has to be adjusted accordingly.

      2. Goods: Posts Sales Discount 

To avail post-sale discounts, several enterprises are entering the supplementary contract or agreements. Thus, customers demand negotiation before processing the final payments.

Business owners must make note that agreements applicable for any discounts must be pre-notified before or at the time of the supply of goods. Thus, any negotiations or supplementary contracts made effective after the sales can be challenged by the department.

      3. Services: Credit Notes      

For services, taxpayers can issue credit notes for taxable value or tax charged. The same must be issued under the tax invoice for deficiently supplied services.

Enterprises must provide evidence before the department explaining the reason why they require a downward revision in prices. They should justify the circumstances that led them to the same. Under such circumstances, small business owners can avail of a refund with the approval of the department.

       4. Services: Advances Received for Services on Contracts Cancelled 

The GST liabilities must be discharged on advances received on services in the prior of receipt. In case the contract is canceled after receiving the advance, the assesses can either claim refund or adjust the advance tax against liability. A tax refund is available under such circumstances.

Impact of GST on Indian Economy – Income Tax Credit (ITC) Implications

      1. Income Tax Credit (ITC) Incurred to Rid from the Impact of COVID-19

Enterprises have decided to incur their expenses to combat COVID-19. The government has provided a directive for business owners to incur a particular expenditure along with expenses. For instance:

Note 1: The business owners must know that each expense will be examined before its allowability. For instance, health insurance is not allowed under the GST Act unless provided as per the government’s notification.

Note 2: Business owners must maintain documentation to justify the need for expenses incurred.

    2. Reversal of ITC for Not Paying Suppliers Within 180 Days

The due dates are extended. The government has not provided clarification regarding the reversal of ITC if suppliers aren’t paid within 180 days. However, if the government offers any such explanations, business owners will have to take a call accordingly.

In case the limit of 180 days exceeds the due date, it is evident that no extension will be applicable concerning the terms and notifications mentioned above.

     3. Reversal of ITC on Obsolete Inventory

Business owners must reverse the goods that are destroyed, disposed, or written off. Enterprises must maintain accurate documentation for appropriate obsolete inventory form and reverse ITC at the same time when filing returns.

        4. ITC on Goods Sold at Loss

During the COVID-19 pandemic, many businesses had come to a standstill. They were selling under distress. If enterprises have accurate documentation on goods sold for a lesser price, they can claim for refund.

       5. Goods sent for Job-Work.

When inputs are sent to job work without tax payment, the principal is liable to pay tax and applicable interest for the unpaid period. The same applies to goods sent for job work. It is recommended that business owners apply for a time limit extension on reviewing the status of capital goods and inputs sent to job work.

Review of Existing and Future Contracts

Business owners must review all their existing contracts. Taxpayers must undertake the review of possible impacts of clauses and obligations in the agreement concerning the following:

Conclusion

We tried to envisage the potential impacts of GST on the Indian economy during COVID-19 in a nutshell. Currently, the country is stepping back to the normal with the nation-wide lift of lockdown.

Business scenarios are rapidly evolving. Thus, the impact of GST on the Indian economy might change direction amid ongoing changes brought due to COVID-19. The consequences mentioned above can be used as guidance for now. However, the GST implications can differ from case to case.

It is recommended that business owners maintain accurate documents concerning each bank transaction. Only then can a business benefit from the temporary taxation changes.

At Imprezz.in – Billing software for GST, we understand it is nerve-wracking to track all financial records. We provide a 14 days free software trial program on our accounting software for small businesses in India.

E-invoicing is made hassle free with Imprezz accounting solutions. Avail exclusively tailored invoice template to E-invoice GST. Imprezz, the best accounting software allows you to file GST returns in just a few clicks.

You can manage all your manual bookkeeping tasks under the cloud. Access your financial data, manage your accounting tasks, create invoices from anywhere during these tough times.

Log-in to our online quote creator software to experience touchless inventory management. Enjoy the benefits of free invoicing software along with reaping the benefits of GST amendments amid COVID-19.

Imprez.in Launches Purchase Order Management to Accelerate Touchless PO Life-Cycle.

Bengaluru, India, August 10th, 2020: Imprezz, India’s leading invoicing software, announced its latest feature update, purchase order management. Imprezz accounting software is a one-stop accounting solution for small and medium enterprises in India. The company strives to accelerate touchless purchase order life-cycle after reinforcing businesses with simple yet congenial invoicing and quotation management tools in recent years.

Besides providing strong support to the SME’s, Imprezz is determined to launch several features to reinvent the technologically driven accounting attributes. The new feature, purchase order enables the user to manage the entire purchase order cycle rapidly. It allows the users to create standardized PO’s directly from requisitions with a click of a button. Read further to discover how you can speedily improve your business with the Imprezz purchase order feature.

Imprezz purchase order feature

“Overwhelmed by Business complexities amid the global economic crisis? – Realize that the alphabets consist only 26 letters, all our calculations are based on ten numerical digits, our DNA can be dissected into four letters, and you can rid from all your business complexities with a just of automation”.

Do you know what the root cause of all your business complications is? – The complication itself. In today’s business world, people are fascinated by hustle culture. Blindly driving yourself crazy to work hard is a waste of time and effort. Instead, you can adapt the technological advancements in your businesses to automate necessary business functions. It not only simplifies your business but helps you better focus on crucial management tasks.

In business, the last thing you should be dealing with is paperwork. Some companies tend to ignore the aspect of purchase order management to rid of the extra paperwork. Business owners might as well argue as it might seem like just another copy of invoices. But most small businesses and large enterprises know that PO management simplifies the workflow. It is nerve-wracking to maintain accurate financial records without purchase orders.

After hearing the requests of millions of customers, Imprezz launched an add-on feature, purchase order. The goal is to update advanced features continually so that businesses need not implement multiple software for various accounting processes. You can now rid of the PO management software system as you can manage the same on your invoicing software. Cut costs and effectively manage all your accounting tasks under a single dashboard on Imprezz.in.

Consolidate your purchasing functions on all levels with imprezz

Simplify Your Purchase Orders with Imprezz

Imprezz enables you to track all your purchase orders, view financial forecasts, and access all costs under a single system. You can take bulk orders with an accurate costing. Become an A-lister by billing clients accurately. Say no more to manual processes and double entries, harvest better results timely with purchase order management on Imprezz.in

Here’s how you can simplify purchase order management with Imprezz accounting software.

1.      Control Your Finances

Establishing the PO system organizes the ordering process. You can create PO’s in just a click with Imprezz.in. It can save you a lot of time in the long-run.

Accurate PO management helps with budgeting of massive projects and day-to-day purchases. With Imprezz, you can calculate quantities and prices to understand your sales and profit requirements better.

You can automatically push bills with PO management features and eliminate double handling. You can manage business costs through this handy feature available in the software.

2.    Beware of Your Spending

Control all your business spend on Imprezz invoicing software. The newly launched purchase feature enables you to manage all sorts of PO’s. Standard PO’s, Blanket PO’s, Planned PO’s, and Contract PO’s to name a few.

The feature enables you to streamline your business workflow with spend management solutions. You can track and record what’s being ordered, the cost changes on the product or service, and the delivery status.

Using the PO management feature enables you to get rid of unexpected costs. It provides warning against unanticipated expenses. It primarily contributes to planning, budgeting, and communication aspects of organizational management.

The advanced purchase order feature on the software enables you to control the authority to access the purchasing system. With automated management of PO under one system, it becomes easier to track where all the money is going.

3.    Automation

Automation makes business flexible and adaptable to changes. Each business enterprise work with distinct financial values. The purchase order feature enables organizations to streamline their accounting processes concerning their values.

The feature provides accuracy, speed, visibility, and greater control through routing approvals. Automation efficiently converts purchase requisitions into purchase orders. Follow the right approval processes with Imprezz.in.

4.    Integration

The purchase order feature is integrated into all-in-one accounting software. You can automate data transfer from PO’s to invoices under the same software. The integration of PO and invoicing management allows you to keep your financial reports intact.

Integrating purchase order management helps procure inventory. The easy to use PO feature within an invoicing software helps in inventory management. You can match purchase orders against invoices to better understand the incoming inventory.

5.     Flexible Receipting Processes

There are multiple ways to receipt orders. You can customize receipts as per the requirement of your order on Imprezz.in. Change it to a full or partial receipt as per the requirement. You can also amend the purchase order by including or eliminating the items.

Key Features of the New Update: Purchase Order

The user interface of Imprezz software allows you to manage purchase orders feature in the cloud easily. You can manage requests, create and send purchase orders, monitor your spending, and approve invoices from anywhere, anytime with the integrated software system. You can quickly and accurately control the purchase order workflow with the utmost visibility.

About Imprezz.in

Imprezz is cloud-based accounting software with an integrated purchase order management feature. It enables a variety of businesses to control their financial operations efficiently. The invoicing software has been revolutionizing the way businesses operate in India

Today, Imprezz is one of the leading accounting software across the country. The accounting tools offered by the software have drastically transformed freelancers and entrepreneurs by providing cutting-edge innovation. The company’s mission is to build value so businesses can focus on higher productivity and healthier cashflow.

Media contacts

For India                                                      Amit Mundra info@imprezz.in

How Tax Calculations Have Changed During COVID-19The COVID-19 pandemic has led to a set of unfortunate outbreaks of the Indian economy. Economic activities had come to a standstill due to the nation-wide lockdown imposed by the government. The impact prompted the government to change tax calculations to provide relief to the taxpayers.

The finance minister, Nirmala Sitharaman, introduced economic relief measures. It includes financial aids, provision of subsidized/free food, debt repayment deferrals, etc. The beneficial rates of the relief measures are going to be available for the rest of the current fiscal year.

Alongside, the income tax department has also notified changes in tax calculations and the release of pending refunds to noncorporate taxpayers. The finance act received presidential assent on 27th March – 2020 for the FY 2020-2021 (i.e., 1st April 2020 – 31st March 2021).

The government altogether aims at increasing the cask flow and fast-track the economic revival in the country. In this article, we have coupled some of the vital changes in Income tax calculations and relief measures.

Changes in Income Tax Calculations Amid COVID -19

The current Income Tax Act (ITA) includes various exemptions and deductions for individuals paying taxes. Tax bill laws are simplified with the newly imposed personal tax regime from 1st April 2020.

To avail of the simplified regime, taxpayers must file GST returns within the specified due dates. Here, we have listed some of the deductions and exemptions that are not applicable to those who opt for the new income tax regime.

Taxpayers can choose if or if not to file returns under the new regime. Several senior citizens opt for the old tax regime as it is more beneficial for them. However, it does not apply to individuals with business or professional sources of taxable income.

COVID-19 – Income Tax Calculations Relief Measures

The government of India has been striving to counter COVID-19. The Income Tax Council has taken a collective approach to adopt tax calculation measures. The procedural framework of filing Income tax returns/GST returns have been simplified for the taxpayers.

It includes various measures, such as the extension of statutory deadlines to 30th June 2020 and GST returns and e-invoicing to 1st October 2020. Find the specific tax calculation relief measures below.

Reductions on TDS/TCS Rates

Revised Rates on TDS

The government has notified specific revisions on tax withholding’s rates of India. The revised dates apply between 15th May 2020 to 31st March 2021

Extended Due Dates

Conclusion

In a nutshell, it is a difficult time. It is a situation that no one has experienced before, so everyone is trying to learn as they go. We can only get through this by handling it together.

The government has also notified the immediate issue of pending income tax refunds to charitable funds and non-commercial companies—for instance, Limited Liability Corporations, Sole Liability Corporations, and Cooperative Partnerships.

Likewise, the government of India has taken several necessary steps to provide support to trade and businesses. The changes in income tax calculations and relief measures are focused on easing the pain and helping the Indian community of individuals and companies to sustain amid COVID-19.

Ready-made GST invoice templates ensure on-time tax filing. Ease your business workflow amid the crisis – subscribe to Imprezz.in, accounting software for small businesses in India. Invoice reports are readily available in a GST compatible format with just a few clicks on our invoicing software.

We are offering an exclusive 14 days free trial software program for businesses in India. Benefit from amending your invoice processing, simplify your GST tax filing according to the updated tax calculation changes. Start today!

Is It Okay to Create Invoices Without Company RegistrationAre you struggling to sort your invoice creation confusion? In a nutshell, you need not have a limited company to create invoices. There are several businesses across the country that operate as a sole proprietor.

You can legally issue an invoice in the name of your client. But it is unlike the GST tax invoices. A GST invoice is a detailed document issued under section 31 of the CGST Act, 2017.

A GST tax invoice contains mandatory contents. It includes GSTIN of both supplier and buyer, addresses, taxable amount, etc.

Only taxable goods and services registered under the government can issue the GST invoices. It allows you and the recipients to claim ITC (Input Tax Credit). However, for safe and secure functioning of the business. It is always recommended to register your business.

Whether you want to have a limited company or not, this article will address all your confusion concerning creating invoices.

How Can I Invoice Without A Registered Company?

“Can I invoice without being self-employed?” It is the most commonly asked questions by freelancers who do not want to declare themselves as self-employed. Being a freelancer or a sole proprietor does not require you to take formal actions.

Only businesses with specific thresholds are mandated to create invoices under GST. Otherwise, you can always send invoices to your clients as per their request. However, there are specific key considerations that you must include in your professional invoices.

What Should My Invoice Include?

Integrity is a choice between what’s convenient and what’s right. Professionalism is vital for small businesses to succeed in the near future. It is why most freelancers and sole proprietors prefer online invoicing.

Invoicing your clients is easier with online invoicing templates on the invoice generator. Here are a few key considerations that you must document in your invoices.

Your invoice must primarily consist of your full name or business name. Ensure the visibility of the name. Use a bigger size and formal font.

Include your contact details like mailing address, contact number, email address, and website link (if any). You can also add a personal logo to make your invoice look more professional.

The next vital consideration of a formal invoice is the client’s contact information. Below the header, specify the details of the recipient. Include your client’s name, address, contact number, and other additional information.

Note that your contact information must be placed opposite to your client’s contact details. Place your logo on the top-right and set your client’s details on the left corner, below the header.

Next up is invoice details. Mention the invoice information such as invoice number, invoicing date, and payment due date. Setting up a sequential invoice number helps your track all your transactions.

Specify payment terms in your invoice, specify your bank account details or payment options. If you want to get paid faster, mention the penalty fee for late payments. It may prompt your client to pay you earlier or, at least, on time.

Legalities for Formal Invoicing

Most small businesses are concerned about the legalities of their formal invoices. Formal invoices are considered legal and will stand in court when required. However, you may run into trouble if your invoice is considered fraudulent. For instance:

In a nutshell, keep your invoice precise and accurate. Breakdown the charges and include all the necessary key considerations mentioned in the article above.

Quick Tips to Successfully Invoice Your Clients

Sending manual invoices can hurt the image of your business. You can automate the invoicing process through online accounting software. Imprezz.in is the #1 billing software for small businesses in India. Create invoices on our software to invoice companies successfully.

Sending manual invoices to huge companies might delay your payments. It is more likely that your paper invoice will get piled or lost. Instead, you can automate all your invoicing processes, payment reminders, reoccurring invoices, and more.

The image below is the demonstration of automated invoice templates on Imprezz.in.

automated invoice templates on Imprezz.in.

Automated Invoice Templates

You can directly email the invoice to the client on our accounting software. Automate reoccurring invoices and payment reminders. Get paid on time by sending invoices while the project is still fresh in your client’s mind.

The software comes with advanced features such as payment registration for invoices. It allows your customer to pay online from anywhere. It increases your chances of getting paid instantly.

You can see the demonstration of the same in the image below.

The software comes with advanced features such as payment registration for invoices

Advanced Invoicing Features

Sending e-invoices is an ideal way of practicing professionalism in your business. Along with creating invoices, Imprezz.in also allows you to create unique quotations concerning the diversified businesses.

You can also track time, petty cash, and each transaction by using Imprezz.in. Are you planning to expand your small business or register your freelance service? You can also issue tax invoices on Imprezz GST billing software.

Create Invoices: GST Invoice Rules for Start-ups in India

Although you can send formal invoices, it is limited to goods and services only. Any business with an annual turnover threshold exceeding five lakhs is required to register under VAT.

Likewise, businesses with a turnover exceeding the threshold limit of 40 lakhs in a financial year must follow the compulsory registration under GST. The GST law has now implemented the composition scheme for small businesses in India. Companies with a turnover of up to 1.5 crores are subjected to a lower tax amount under this scheme.

Only the registered companies must file goods and service tax e-invoice on purchases and sales. Otherwise, individuals can send formal invoices to a registered person or business without registering under GST.

For more information on GST invoice rules, GST invoice guide, and latest updates on GST invoicing templates, read this article.

Simple Procedure for GST Registration

Most businesses are increasingly registering under the GST scheme. The new returns filing system provides additional security and financial benefits to companies in India. Unlike the old procedures, even the registration process has been made easier.

You can quickly register your business or service under GST in just a few clicks. You can complete the whole registration process online and promptly obtain a registration number. GST had brought relief to start-ups and small businesses in India. Companies can now benefit from newly registering under the scheme.

Conclusion

In simpler words, yes, you can send regular invoices if you are a freelancer or sole proprietor. It is simply called as an official bill. However, the goal of most small businesses is to convert invoices into payments quickly. Create invoices through accounting software instead of excel or paper invoices.

You can get a glimpse of successful invoicing outcomes for free—login to Imprezz accounting software. We are offering a 14 days free accounting software trial program for freelancers and small businesses across India. Try now!

Proforma Invoice Under GST

What does it mean when you receive a bill marked as a proforma invoice? Is it compulsory for the sellers? Does the invoice provide a specific time frame to act upon? Can we pay the GST against a proforma?

The article below will briefly explain everything you need to know about the proforma invoice under GST.

What is a Proforma Invoice? – Meaning

Proforma Invoice is a preliminary sales invoice that contains an estimated price and commission. The invoice is usually sent to an enquiring customer addressing the approximate amount of goods or services yet to be delivered. It also includes estimated costs of shipment, taxes, and commissions (as applicable).

The proforma is more like a replica of a commercial invoice. It rids a buyer/retailer/customer from being exposed to unexpected or unfair charges during the final transaction stage. You need not pay GST for this kind of invoice. Instead, you will only pay tax for a guaranteed GST invoice.

When Does a Seller Issue Proforma Invoices?

As mentioned above, a proforma bill is a pre-sale invoice. A seller issues a proforma on the request of the buyer. For instance, consider a customer purchasing a car. The company will issue a proforma before the sale to confirm the purchase order from the customer.

Once the customer confirms the price, the car is delivered within the estimated delivery date. The customer can then pay the amount as per the actual GST invoice, closer to the proforma bill of supply.

Why Should Companies Use Proforma Invoices? – Purpose

Proforma invoice GST is a preliminary online quotation of the product or service that is to be delivered shortly. Issuing a proforma declares that the seller has agreed to deliver the required items as per the mentioned price.

Proforma templates are mainly used in businesses concerning imports and exports to ensure hassle-free delivery. Here are some of the primary purposes of using proforma bills.

1.       Custom Duty Calculations

The proforma invoices are used mainly in cross-border transactions. The invoice enables companies to calculate the estimated custom duties concerning the specified trade obligations.

2.      Contact Details

The proforma consists of contract details in the document, along with the contact details of the customer. It acts as a contact between both the seller and the buyer. The clarified information in a proforma can be easily copied to an actual GST invoice.

3.      Import and Export

The issue of proforma invoices is not mandated under the law. Yet, businesses prefer using proforma invoices as it provides clarity on trade transactions. Proforma enables both parties to evaluate and understand the possible issues. Like, the cross-border business transactions, currency, exchange rates, and other variables.

Critical Considerations of Proforma Invoice

Proforma Invoice Under GST v/s GST Proforma Invoice

There are not many differences between the GST law and pre-GST law. The format and the content remain the same. However, here are a few significant differences, to mention a few.

The contents of a GST pro forma invoice templates include the GST registration number. Wherein, a former invoice contains sales tax registration number / VAT / ST.

Moreover, a pro forma invoice GST also specifies additional information. It includes the data on the HSN registration code of goods and service code.

GST proforma enables business owners to convert the tax rates into CGST, SGST, and IGST. It applies only to the intra-state and inter-state supplies.

Can We Pay GST Against a Proforma Invoice?

In a nutshell, no, you cannot pay GST against a proforma invoice. GST regime has no provisions of Proforma Invoices. It is only a roughly drafted document sent to the recipient.

As per section 31 CGST act 2017, the GST regime allows the issue of invoices for the following only:

Contents of Proforma Invoice Template

A proforma invoice template usually contains an estimated sales price, quantity, costs, commission, etc. However, here are some of the mandatory contents that a proforma must contain.

Conclusion

In Summary, a proforma document is a confirmation request sent to a customer before shipment. But a regular tax invoice is issued demanding payment on a completed deal. We hope you have found answers to all your questions on Proforma Invoice under GST.

Are you wondering how to make a proforma invoice? Creating proforma invoices had never been easier than with Imprezz, #1 proforma invoice software in India. Create and send GST tax invoices and pre-sale proforma invoices in just a few clicks.

We also offer a 14 days free trial software program for small businesses. Kick start your start-ups with professionalism. Subscribe to our software for advanced invoicing features.