27 May 2024
In the case of bill-cum-supply rule no. 47 is still pplicable, and penalties for not providing a bill-cum-supply, similar to tax invoices, are still applicable= 20,000 per invoice.
09 July 2024
It seems like you're referring to a specific rule or provision related to billing under GST (Goods and Services Tax) in India. Here's an explanation based on the information provided:
### Bill-cum-Supply Rule (Rule 47 of CGST Rules, 2017):
1. **Applicability**: Rule 47 of the Central Goods and Services Tax (CGST) Rules, 2017, pertains to the issuance of a "bill-cum-supply" document. This document combines both the bill of supply and the tax invoice for a transaction where certain conditions are met.
2. **Conditions for Bill-cum-Supply**: - A bill-cum-supply can be issued for a supply where the supplier is not eligible to charge tax on the transaction (as per Section 10 of CGST Act, dealing with composition levy). - The document must clearly indicate that it is a bill-cum-supply and should contain all necessary details required for both a bill of supply and a tax invoice.
3. **Penalties for Non-Compliance**: - If a taxpayer fails to issue a bill-cum-supply where required, penalties similar to those for not providing a tax invoice may apply. - As per GST laws, penalties for non-compliance can be significant, typically set at Rs. 20,000 per invoice or occurrence, as stipulated under the GST Act.
### Compliance and Considerations:
- **Documentation**: It's essential for businesses to understand when a bill-cum-supply is required and ensure compliance with GST rules by issuing the correct documents. - **Penalties**: Non-compliance with GST invoicing rules, including issues related to bill-cum-supply, can lead to penalties. These penalties are designed to enforce proper documentation and compliance with GST regulations. - **Consultation**: For specific cases or further clarification on GST invoicing requirements and penalties, consulting with a GST practitioner or tax advisor is advisable.
In summary, Rule 47 concerning bill-cum-supply under GST mandates compliance with specific conditions and imposes penalties for non-compliance, similar to those for issues related to tax invoices. It's crucial for businesses to adhere to these rules to avoid penalties and ensure smooth GST compliance.
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