How to create export invoices in GST?
If you have a business in India that deals with international clients, you need to make a tax invoice for export, with a different currency for these clients. You can create such an invoice in Sleek Bill by doing the following:
In your Dashboard, go to Invoices and click on the +New button and select Tax Invoice.
First thing that you need to do is select the out of India client you are making the invoice for. This will modify the aspect of your invoice:
There are a few things you need to add here:
1. Place of supply - will be selected automatically as "Outside India" based on the country of your client
2. Country of supply - will be selected automatically as the country of your client, but can be modified if you are shipping the goods in a different country.
3. Export type - here you have 3 options:
What do these options mean?
Export under Bond/ LUT– Supply goods, services under bond or LUT (Letter of Undertaking), without paying IGST. This means that you then claim a refund of unutilized ITC on purchases of inputs used for supplying the exported goods or services
Export with IGST– Any exporter, Embassy or other agencies/bodies who supply goods or services (or both), paying IGST, can claim a refund for the IGST paid on the supplied goods or services.
SEZ with IGST - Because the supply of goods or services to SEZ is considered as zero-rated supply, no IGST will be paid. You need to enter GSTIN of the receiver, country of supply will be India and the currency will be INR.
4. Export currency - here you need to select the currency of your invoice. It will be taken automatically as the official currency of the client's country.
5. Conversion rate - this is the conversion rate between your default currency (in the case of a company registered in India, INR) and the currency of the invoice. This amount is manually introduced by you,.
Next, you need to add the items you are supplying and a few other details:
6. Add items to your invoice - add quantities, HSN codes, GST rates (if that's the case) and click on "+Add line" for each item
7. Add shipping charges, if any and the respective GST rate - if that's the case.
8. Shipping bill info - you can add information about your shipping bill such as :
- Port code - search the name of your port or code and select from the dropdown.
If you need to add other details such as Cess, Discount or Transport Labels, please select these options from the Invoice edit screen. For the purpose of this demonstration, we have left these out.
Add any other extra details in the Terms section and then click on "Preview & Save".
Your export tax invoice is now done. You can send it to your client straight from Sleek Bill, save it as a PDF, print it or add payments to it.
This is as example of how the invoice we made above looks like: