(GSTmitra-Series-9) πŸ“’ Bill of Supply

β›³ What is Bill of Supply?

🌴 SECTION 31(3)(c) of CGST Act, A registered person supplying EXEMPTED goods or services or both or paying tax under the provisions of SECTION 10 shall issue, instead of a tax invoice, a bill of supply (in lieu of tax invoice) containing the prescribed particulars.

β›³ Particulars in a ‘Bill of Supply’
According to Rule 4 of GST Invoice Rules, a bill of supply issued by the supplier shall contain the following details:
a. name, address and GSTIN of the supplier,
b. a consecutive serial number, not exceeding 16 characters containing only alphabets and/or numerals, unique for a financial year,
c. date of its issue,
d. name, address and GSTIN/ UIN, if registered, of the recipient,
e. HSN Code of goods or Accounting Code for services,
f. description of goods or services or both,
g. value of supply of goods or services taking into account discount or abatement, if any, and
h. signature or digital signature of the supplier or his authorized representative.
Note: Tax Invoice issued under any other act in respect of non-taxable supply shall be treated as bill of supply.

β›³ HIGHLIGHTS of ‘Bill of Supply’?
🌴 bill of supply to be issued by registered taxable person supplying non-taxable goods and/or services.
🌴 bill of supply to be issued by registered taxable person paying amount under the composition levy.
🌴 bill of supply containing prescribed particulars is issued in lieu of tax invoice.
🌴 bill of supply will also be issued by unregistered persons who are not required to pay GST.
🌴 bill of supply will generally contain the similar particulars as in case of tax invoice except that of tax charged.

β›³ When Bill of Supply is not required?
🌴 Rule 4 of GST Invoice Rules, a registered taxable person may not be required to issue bill of supply if the value of the goods or services supplied is < Rs. 200. 🌴 He may be required to issue bill of supply where the recipient of the goods or services requires such bill. β›³ Consolidated Bill of Supply
Rule 4 of GST Invoice Rules, consolidated bill of supply shall be prepared by the registered taxable person-
🌴 at the end of each day,
🌴 in respect of all supplies for value of less than rupees two hundred (Rs. 200),
🌴 consolidated bill of supply will only cover supplies where bill of supply has not been issued..

CA. SHARMA Praveen
GST Trainer & Consultant
+91 9871530610, 8383073005