GST is a destination based tax or a consumption-based tax. Thus the place of consumption will decide the state which will liable to collect taxes under GST. This principle seeks...
A Bill of supply is a transaction document that is different from the normal tax invoice. It does contain the tax separately in the invoice.
A Bill of Supply is issued by the following persons:
- If a registered person is supplying goods or services that are exempted
- If the registered person has opted for Composition levy
The bills of supply shall contain the following mandatory fields as below:
- Name and the address of the supplier
- GSTIN No. of the supplier
- Bill of supply should be consecutively numbered.
- If the receiver of the goods is registered the than a name, address and GSTIN no. of the recipient.
- HSN code of goods and SAC code for services
- Description and value of goods or services
- Signature of the supplier
The format of the Bill Supply: