Billing, POS, Cash Handling and Payment Methods
What the exam tests
Accuracy under time pressure: scanning, GST computation on an inclusive price, cash reconciliation and acceptance of digital payments.
GST invoice essentials
A tax invoice must show supplier name, address and GSTIN; invoice number and date; customer name (mandatory for B2B, optional for small B2C); HSN/SAC code; description, quantity, taxable value, rate and amount of CGST and SGST (intra-state) or IGST (inter-state); place of supply; total; and signature. A composition dealer issues a bill of supply and cannot charge GST.
Price-inclusive arithmetic
MRP is inclusive of GST. To split it: taxable value = MRP ÷ (1 + rate). For 18%, divide by 1.18.
Payments
Cash, debit/credit card (EMV chip with PIN, contactless), UPI by VPA or QR, wallets, net banking, BNPL, cash on delivery. Never ask for or record a card PIN or UPI PIN; never process a card that leaves your sight.
Cash handling discipline
Open the till with a fixed float, count the float in the presence of a second person, drop large notes periodically, count the drawer against the POS day-end report, and record any variance with an explanation.
Worked example
A bill totals ₹1,180 inclusive of 18% GST, sold within Maharashtra.
- Taxable value = 1,180 ÷ 1.18 = ₹1,000.
- GST = ₹180, split as CGST ₹90 + SGST ₹90 - not IGST, because the supply is intra-state.
- If the customer pays by UPI, the POS settlement report must show the same ₹1,180 against the invoice number.
Traps that cost marks
Adding 18% on top of an inclusive price; charging IGST on a local sale; correcting a cash shortage by adjusting another bill; accepting a note without checking the watermark, security thread and microprint.