Bill of supply under GST – How and When to issue the bill of Supply under GST – with format

1.0 Introduction 

In our past articles, we have talked about and comprehended the significance of solicitations in GST and how to utilize them. Today we will additionally broaden our insight by examining in this article about the bill of supply. 

Bill of supply is not quite the same as assessment receipt. Bill of supply is the records which are issued when an enrolled individual is either managing in exempted merchandise or administrations or he has profited the sythesis plot. 

We will examine the theme in detail to make it understandable for everybody. 

2.0 What is a bill of supply under GST? 

As clarified over, a bill of supply is the point at which an enlisted assessable individual is providing on assessable products/exempted merchandise or administrations or he has settled on piece plot under GST. 

The particulars of the bill of supply are practically like duty receipt aside from the assessment charged. The essential contrast is that the duty segment does not exist in the bill of supply. The enrolled individual can't charge duty to the purchaser. 

3.0 When a bill of supply is issued by the provider under GST? 

According to law for each deal/supply impose receipt is issued. Be that as it may, there are sure circumstances where the bill of supply is issued in regard of the supply made. 

The accompanying are the conditions when enrolled individual is at risk to issue the GST bill of supply rather than assess receipt 

Supply of not assessable merchandise/exempted products by an enrolled assessable individual 

Enlisted individual has decided on sythesis collect 

Unregistered individual 

Issue of bill of supply by unregistered individual 

The GST law does not make a difference to the unregistered individual and subsequently, the unregistered individual isn't bound by the expense receipt rules. In any case, still, the individual can select to issue a bill of supply for each supply made as it will make his business more straightforward and responsible. 

Situation where receipt esteem is under Rs.200 

At the point when the estimation of merchandise or administrations is under Rs.200 then the bill of supply won't be issued independently for the receipt rather he may set up a merged bill toward the finish of every day with the products whose sum was underneath Rs.200 and bill of supply was not issued. 

4.0 How to issue bill of supply under GST 

Since we know about the bill of supply let us talk about how to issue the same. 

There is no endorsed organize given by the legislature to a bill of supply. Nonetheless, they have given the compulsory particulars to be included it. 

How about we comprehend the same in steps: 

#Step no.1 – Confirm the idea of products 

It is imperative for each citizen to have the capacity to recognize assessable and on assessable merchandise. On the off chance that the products a supply is exchanging are assessable merchandise at that point impose receipt must be raised not a bill of supply. 

However where the merchandise are nontaxable then the bill of supply is compulsory. Hardly any cases of nontaxable merchandise are flour, sugar, bread, drain and so forth. 

#Step no.2 – Nature of citizen under GST 

The nature or sort of citizen figures out what sort of bill will be produced. On the off chance that the individual is a consistent enlisted individual under GST at that point charge receipt is issued however for the situation yet in the event that he has decided on piece than the bill of supply is issued. 

So also, a man who isn't enrolled in GST isn't required to pay assess under GST. 

#Step no.3 – Creating bill of supply with legitimate subtle elements 

The bill of supply does not have any endorsed arrange but rather there are sure obligatory particulars which must be there in the bill of supply. Further, if the bill of supply isn't issued appropriately, at that point the citizen may confront the reformatory activity from the legislature. 

Scarcely any case of detail which ought to be there in each bill of supply- 

Name, address and GST number of the provider 

Date of issue 

Name address and GST number (if enlisted) of the beneficiary/purchaser 

HSN codes of the merchandise 

Estimation of merchandise 

Mark 

HSN/SAC code 

#Step no.4 – Keep appropriate record and document the same in GSTR 1 

Once the bill of supply is issued, the citizen must keep up the document of the bill of supply and furthermore ought to transfer the points of interest in GSTR 1 for the applicable month.