B2B, B2C Small and Large Invoices in GST?

This document covers

1. B2B Invoices
2. B2C Small Invoices
3. B2C Large Invoices

1. B2B Invoices

1. B2B means business to business transaction
2. In B2B transaction, the customer is also a registered person and is eligible to take ITC.
3. For B2B supplies, invoice wise details of both intra-state and inter-state supplies should be uploaded in GSTR-1 Return.

Note: Scanned Copies of invoices are not required to be uploaded in GSTR 1. Only certain prescribed information needs to be uploaded i.e., GSTIN of Customer, Invoice No, Invoice date, Taxable value, rate of tax, amount of tax and invoice Value.

2. B2C Small Invoices

1. B2CS means Business to Consumer transaction
2. In B2CS transactions, the consumer is an unregistered person and is not eligible to take ITC.
3. For B2CS transactions, consolidated details of intra-state sales for each tax rate, and inter-state sales with invoice value up to Rs. 2,50,000/- for each rate of tax needs to be uploaded in GSTR-1 Return.

Note-1: W.e.f 01st September 2024, all inter-state sales upto Invoice value of rs 1,00,000/- for each rate of tax needs to uploaded in GSTR 1 Return

Note-2: StateWise Summary for each rate of tax should be reported in GSTR 1. The details to be reported includes State, Taxable Value, rate of tax, amount of tax.

3. B2C Large Invoices

1. B2CL means Business to Consumer transaction where the transaction is inter state and invoice value is more than 2,50,000

Note: W.e.f 01st September 2024, all the taxpayers needs to report the inter state sales made to unregistered persons if the invoice value is more than Rs 1,00,000

2. B2CL transactions, the consumer is an unregistered person and is not eligible to take ITC
3. For B2CL transactions, invoice wise details of inter-state supplies with invoice value exceeding Rs 2,50,000 needs to be uploaded into GSTR-1 Return. W.e.f 01st September 2024, invoice wise details of inter-state supplies with invoice value exceeding Rs 1,00,000 needs to be uploaded into GSTR-1 Return

Note: Scanned Copies of invoices are not required to be uploaded in GSTR 1. Only certain prescribed information needs to be uploaded i.e., Place of Supply, Invoice No, Invoice date, Taxable value, rate of tax, amount of tax and invoice Value to be declared