GST BILLING FOR ELECTRICAL PANELS
Can some one please clarify how the billing is to be done for an electrical panel which has many electrical components installed in it? Do we have to mention all the components in the panel or we can simply mention as MCC panel or PCC panel etc. with qty as 1 or 2? I shall be thankful to all those who respond to my query. more
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Electrical Panel in One Unit.. and charge GST at one single rate on Elec. panel under appropriate head... more
Feb 02
This is w.r.t to the question from Sro Shalesh Rao Garu. The invoice from your Company is the MOST CRUCIAL document, for your Company, your customer who has ordered the panels on you. Therefore, in order to avoid confusion in the minds of the GST officers, 1. you have to ensure that, the description of the items ordered by your customers on you, the description of the items to be delivered by you to the customers, your transit insurance documents are SAME. [Including comma and full stop.] 2. The Classifications in the customer PO and your Invoice ARE SAME. 3. you have to ensure that, accurate records are maintained for the inputs and the ITC 4. YOU NEED NOT MENTION all the components in the panel in your supply invoice. 5. Simply maintain the same description of the panels EXACTLY AS PER YOUR CLIENTS' ORDER, and the classification 6. You can mention the your internal work order number or LOT No. , your Model No., and Mfrs' serial number, exactly as per the name plate which you be fixing on the panel. . [The work order number will help you from traceability point of view, if you are a ISO-9000 :2015 organisation. All the best in your documentation Sir. Wish you a nice day. M.Balachandran On Thu, Jan 31, 2019 at 6:41 AM SHAILESH RAO wrote: > more
Jan 31
Thanks to Mr. Mohit and Mr. Bose. However, my query is still not clear. Do I need to mention all items fitted in the panel in the GST invoice or is it sufficient to mention "Electrical Panel" in the invoice? more
Jan 31
There is no need to mention detail of each and every component in the panel. it is enough to state that it is 1 panel, perhaps with a description as to its function, if at all. more
Jan 31
Electrical Panels are covered under HSN 8537 and GST rate is 18%. You can claim input tax credit for components if purchased from GST registered vendors. more
Jan 31
