Friday 7 July 2017

Bill of Supply to be Issued instead of Tax Invoice

A registered person shall issue bill of supply instead of Tax Invoice in the following cases:-
  • A registered taxable person supplying exempted goods or services or both.
  •  Paying tax under the provisions of section 10 (composition scheme) 
Note- Bill of Supply not required to be issued, if value of goods or services or both is less than ₹200.

A bill of Supply shall contain following details to be mentioned:-
  1.  Name,Address and GSTIN of the Supplier.
  2. Seriel Number in one or multiple series- containing alphabets or numericals or special characters.
  3.  Invoice Date/Date of Issue.
  4. Name,Address and GSTIN or UIN,if registered,of the Recipient- Applicable in B2B.
  5. HSN Code of goods or Accounting Code of Services - Required on the basis of turnover of supplier.
  6. Description of goods or Services.
  7. Total Value of Supply of goods or Services or both
  8. Signature or Digital Signature.

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