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Bill of Supply under GST: Meaning, Format & Rules

Bill of supply is issued by the registered person in prescribed format instead of a tax invoice when GST is not levied or when GST need not be collected<br><br>Read More: https://www.taxgyata.com/ap/bill-of-supply-under-gst/

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Bill of Supply under GST: Meaning, Format & Rules

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  1. www.taxgyata.com

  2. Things you should know about Bill of Supply under GST

  3. Who is required to issue a bill of supply? Supplying exempted goods or services or both Tax Invoice Bill of Supply Paying tax under composition levy Registered Person

  4. Invoice-cum-bill of supply Supplying taxable goods or services or both Supplying exempted goods or services or both Unregistered Person Registered Person • Single invoice-cum-bill of supply may be issued

  5. HSN Code on bill of supply Turnover HSN Code < 1.5 crores Not required Between 1.5 crores - 5 crores 2 digit HSN Code > 5 crores 4 digit HSN Code

  6. ITC cannot be claimed on the basis of Bill of Supply

  7. It does not contain the tax rate and amount of tax

  8. It is not required to be issued if the value of supply < Rs 200

  9. Exporters can also issue a bill of supply

  10. Any other similar document issued for non-taxable supply shall be deemed as a bill of supply

  11. www.taxgyata.com https://www.taxgyata.com/ap/bill-of-supply-under-gst/

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