TaxTMI 
TaxTMI 
Total Invoice Value in GSTR1
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....otal Invoice Value in GSTR1<br> Query (Issue) Started By: - Shan S Dated:- 10-5-2025 Last Reply Date:- 16-5-2025 Goods and Services Tax - GST<br>Got 5 Replies<br>GST<br>What is the Total Invoice Value. Difference between Total invoice value and Taxable Value? is Total invoice value is Sales + Gst? and Taxable value is Sales Value? Reply By Sadanand Bulbule: The Reply: In terms of Section 31 of ....
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....the CGST Act, the total invoice value includes the value of supply of goods/services/both plus applicable tax amount, be it CGST/SGST/IGST and Cess. Taxable value is the supply value determined as per Section 15 of the Act. Reply By YAGAY andSUN: The Reply: Total Invoice Value vs. Taxable Value Taxable Value is basically the actual price of the goods or services before taxes. This value is dete....
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....rmined according to Section 15 of the CGST Act, which talks about how to calculate the value of supply. It includes the basic price, plus any extra charges like packing, commission, or incidental expenses that the supplier charges before tax. Total Invoice Value is the final amount on the invoice-the price the buyer actually pays. It includes: The Taxable Value Plus GST (which could be CGST, SG....
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....ST, IGST, and any applicable Cess) To answer your direct questions: Is Total Invoice Value = Sales + GST? Yes, that's correct. Total invoice value is the sales amount (i.e., taxable value) plus GST. Is Taxable Value = Sales Value? Yes, in most cases, taxable value is essentially the same as the sales value, unless there are any additions or deductions as per Section 15. Example: Let's say y....
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....ou sell a product for Rs.1,000 and charge 18% GST: Taxable Value = Rs.1,000 GST @ 18% = Rs.180 Total Invoice Value = Rs.1,000 + Rs.180 = Rs.1,180 So, the difference between the total invoice value and the taxable value is just the tax component. Reply By KASTURI SETHI: The Reply: Total invoice value = Price (total amount charged from the buyer). Taxable Value = Assessable value (on wh....
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....ich tax is to be computed). Reply By Ganeshan Kalyani: The Reply: I agree with the experts' view. Reply By Shilpi Jain: The Reply: Invoice value not defined under GST. Say apart from taxes, the difference can also be pure agent reimbursements on which no GST is payable but to be received from the customer.<br> Discussion Forum - Knowledge Sharing ....