Removal of goods for supply to the recipient, where the supply involves movement of goods; orDelivery of goods or making available thereof to the recipient, in any other case
GST Bill of Supply
Invoice is a document which records the terms of an underlying arrangement between parties. An invoice does not bring into existence an agreement but merely records the terms of a preexisting agreement. GST requires that an invoice – tax invoice or bill of supply – to be issued on the occurrence of certain event or within a prescribed time. Therefore, an invoice, among others is required to be issued for every other form of supply such as sale, transfer, barter, exchange, license, rental, lease or disposal. The section uses the phrase registered person as a person who is required to issue an invoice whereas a taxable person is one who alone is entitled to input tax credit. Where a supplier is not required to charge any tax, he shall raise a bill of supply instead of invoice. Bill of supply will be raised by:
a registered person supplying exempted goods or services or both ora registered person paying tax under the provisions of Section 10
Format of Bill of Supply
No specific format has been prescribed for Bill of Supply under Goods and Service Tax. A bill of supply shall contain following particulars:
a) Name, address and GSTIN of supplierb) A consecutive serial number not exceeding sixteen characters unique for a financial year (may be in one or multiple series and may contain alphabet, numerals or special characters),c) Date of its issued) Name, address and GSTIN or UIN, if registered, of the recipiente) HSN Code of goods or Accounting Code for servicesf) Description of goods or services or bothg) Value of supply of goods or service or both taking into account discount or abatement, if any.h) Signature or digital signature of the supplier or his authorized representative
Bill of supply in respect of supply of goods shall be issued in triplicate. One copy shall be marked as “ORIGINAL FOR RECIPIENT”, One copy shall be marked as “DUPLICATE FOR TRANSPORTER” and the third copy shall be marked as “TRIPLICATE FOR SUPPLIER” Bill of supply in respect of supply of service shall be issued in duplicate. One copy shall be marked as “ORIGINAL FOR RECIPIENT” and second copy shall be marked as “DUPLICATE FOR SUPPLIER”
Supplies not exceeding Rs.200/-
A registered person is not required to issue a bill of supply in accordance with the provisions of clause (c) of sub-section (3) of section 31 i.e. in respect of supply of goods or services or both where the value therein does not exceed a sum of Rs.200/- subject to the following conditions, namely:-
(a) the recipient is not a registered person; and(b) the recipient does not require such invoice,
However, in respect of such supplies the supplier shall issue a consolidated bill of supply for such supplies at the close of each day in respect of all such supplies.
A registered taxable supplier of services, is required to raise invoice at the following timeline:
Where the goods being sent or taken on approval for sale or return are removed before the supply takes place, the invoice shall be issued before or at the time of supply or six months from the date of removal, whichever is earlier. Here, “tax invoice” shall include any revised invoice issued by the supplier in respect of a supply made earlier. The Government may, on the recommendations of the Council, by notification, specify the categories of goods or services in respect of which a tax invoice shall be issued or any other document issued in relation to the supply shall be deemed to be a tax invoice.
GST Invoice Formats 2017
Download Simple GST Latest Invoice Format in ExcelGST Latest Invoice Format (New) in ExcelDownload GST Latest Invoice Format in ExcelGST New Invoice Format for Services in ExcelGST Tax Invoice Template in ExcelGST Tax Invoice for Domestic & Export in ExcelGST New Invoice Format for Composition Scheme Dealers
Other GST Invoice Formats
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