Bill of Supply : Free Study Material
Here is the free study material on Bill of supply provisions under GST
What is a Bill of Supply?
There are specified cases when Bill of supply shall be issued by GST registered person and Tax invoice shall not be issued.
If tax invoice is issued then tax is charged by the person raising the invoice but under bill of supply tax is not charged by the person.
When to issue Bill of Supply
issue Bill of Supply when no tax invoice is required
A registered taxable person supplying exempted goods or services or both or paying tax under the provisions of section 10 (composition scheme) shall issue, instead of a tax invoice, a bill of supply containing such particulars and in such manner as may be prescribed – section 31(3)(c) of CGST Act.
Refer has been prescribed as follow :-
Comment:- For issuing Bill of Supply under GST
- Person should be registered under GST Act and
- person should be supplying exempted goods or services , or
- Person paying tax under the provisions of section 10 (composition scheme)
When Bill of Supply is not required to be issued
No Bill of Supply for small value goods and services
The registered person may not issue a bill of supply if the value of the goods or services or both supplied is less than two hundred rupees, subject to conditions as may be prescribed – proviso to section 31(3)(c) of CGST and SGST Act.
when to issue Invoice cum Bill of Supply
A registered person supplying taxable as well as exempted goods or service or both can issue single ‘invoice cum bill of supply’ – Rule 46A of CGST and SGST Rules, 2017 inserted w.e.f. 13-10-2017.
what is the Format of Bill of Supply
No format has been specified for bill of Supply but Contents of Bill of supply has been specified.
|(a)||name, address and GSTIN of the supplier|
|(b)||a consecutive serial number, not exceeding 16 characters, in one or multiple series, containing alphabets or numerals or special characters -hyphen or dash and slash symbolised as “-” and “/”respectively, and any combination thereof, unique for a financial year|
|(c)||date of its issue|
|(d)||name, address and GSTIN or 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 or both taking into account discount or abatement, if any; and|
|(h)||signature or digital signature of the supplier or his authorized representative.|
How many digits HSN codes in Bill of Supply
Relaxation is giving HSN code or accounting code of service and making consolidated invoice as contained in rule 46 shall, mutatis mutandis, apply to the bill of supply issued under this rule also.
When other documents are Acceptable instead of Bill of Supply
Tax Invoice or other document under other Act acceptable
Tax Invoice or other document issued under any other Act in respect of non-taxable supply shall be acceptable instead of Bill of Supply – – second proviso to Rule 49 of CGST and SGST Rules, 2017.
Comment : This relaxation is useful for suppliers of petroleum products or alcoholic liquor who are out of GST net.
Bill of Supply by Banks for Exempt Services
Is a “Bill of Supply” to be issued by a bank for exempt services like interest on loans and advances, inter-se sale or purchase of foreign currency amongst banks?
As per clause (c) of sub-section (3) of section 31 of the CGST Act, 2017 read with Rule 49 of the CGST Rules, 2017, there is a requirement for issuance of bill of supply for supply of exempt services by Banks. It may be noted, however, that there is no need to issue a separate bill of supply in case any invoice or document has already been issued in accordance with the provisions of any other law. Further, in view of the provisions contained in sub-rule (5) of rule 54 of the CGST Rules, 2017, banks may issue any other document in lieu of bill of supply.
Reply to Q 16 as per GST FAQs on Financial Services Sector published by CBIC
Relevant Study material on Bill of Supply
Relevant Rules of CGST Rules on Bill of Supply
Also refer http://www.cbic.gov.in/
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