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Commercial Receipt

Commercial Receipt Template for India

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Key Requirements PROMPT example:

Commercial Receipt

"I need a Commercial Receipt template for my IT services company that handles both domestic and international clients, with specific sections for GST calculation and digital payment details, compliant with Indian tax laws for the 2025 financial year."

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Document background
A Commercial Receipt is a fundamental business document used in Indian commercial transactions to provide formal acknowledgment of payment received for goods or services. It serves as crucial documentation for tax compliance, particularly under the GST regime, and provides evidence for both parties in business transactions. The document must comply with Indian tax laws and commercial regulations, including the Central Goods and Services Tax Act, 2017, and the Legal Metrology Act, 2009. Commercial Receipts are essential for maintaining financial records, claiming input tax credits, and establishing audit trails. They can be issued in both physical and digital formats, provided they meet the requirements of the Information Technology Act, 2000, and contain all mandatory information such as GST details, transaction specifics, and party information.
Suggested Sections

1. Business Information Header: Company name, address, GST number, contact details, and receipt number

2. Customer Details: Name, address, and GST number (if applicable) of the customer

3. Transaction Details: Date of transaction, mode of payment, and payment status

4. Item Details: Description of goods/services, HSN/SAC code, quantity, unit price, and total amount

5. Calculation Summary: Subtotal, applicable taxes (CGST/SGST/IGST), and final amount

6. Payment Information: Payment method used and transaction reference numbers

7. Authorization: Authorized signatory details and/or digital signature if applicable

Optional Sections

1. Terms and Conditions: Optional section for specific terms like return policy, warranty information - used when these need to be explicitly stated

2. Delivery Details: Include when goods are to be delivered - shipping address, delivery terms, etc.

3. Purchase Order Reference: Include when the receipt is linked to a specific purchase order

4. Customer GST Details: Detailed section for B2B transactions where customer's GST details are required

5. Discount Details: Include when special discounts or promotions are applied to the transaction

Suggested Schedules

1. Item Details Schedule: Detailed breakdown of multiple items when the main receipt needs to remain concise

2. Tax Computation Schedule: Detailed breakdown of tax calculations for complex transactions with multiple tax rates

3. Payment Schedule: For installment payments or multiple payment methods used in the same transaction

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant Industries

Retail

Wholesale Trade

Manufacturing

Professional Services

Information Technology

Healthcare

Education

Construction

Hospitality

E-commerce

Transportation

Real Estate

Financial Services

Consulting

Relevant Teams

Finance

Accounts

Sales

Operations

Administration

Compliance

Tax

Audit

Billing

Treasury

Customer Service

Legal

Relevant Roles

Accountant

Finance Manager

Sales Representative

Store Manager

Business Owner

Tax Consultant

Accounts Receivable Clerk

Billing Coordinator

Financial Controller

Compliance Officer

Auditor

Cashier

Operations Manager

Administrative Assistant

Industries
Central Goods and Services Tax Act, 2017: Governs the GST requirements for receipts, including mandatory information like GST number, tax amounts, and HSN codes
Indian Contract Act, 1872: Provides the basic framework for commercial transactions and documentation requirements for valid contracts
Consumer Protection Act, 2019: Mandates requirements for proper documentation of sales to protect consumer rights and interests
Information Technology Act, 2000: Governs electronic records and digital signatures if the receipt is in electronic format
Legal Metrology Act, 2009: Specifies requirements for displaying prices, quantities, and other measurements on commercial documents
The Sale of Goods Act, 1930: Governs the sale of goods and related documentation requirements in commercial transactions
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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