Form Form GST INS-01 (PDF Excel Format) : Government has finally notified the rules for Form GST INS-01 and below we have provided detailed information on this topic and also How to Generate Form GST INS-01 online. We have also provided INS-01 Form format in Excel for free download. In our previous articles, we have already given GST List of Goods and Services and also GSTR 3B Format. We have also given the official GST Form Format. This article on INS-01 Form in GST and How to Generate it has been contributed by CA Mohith Jain in association with CAexam Editorials Team.
Form GST INS-01 Format and Details
|Available Format||Excel & PDF|
|Form GST INS-01 Format||Download|
How to Download Form GST INS-01 Format
If the goods are transported by the registered person as a consignor or the recipient of supply as the consignee, whether in his own conveyance or a hired one, the said person or the recipient may generate the INS-01 Form in FORM GST INS-1 electronically on the common portal after furnishing information in Part B of FORM GST INS-01.
If the INS-01 Form is not generated, and the goods are handed over to a transporter, the registered person shall furnish the information relating to the transporter in Part B of FORM GST INS-01 on the common portal and the INS-01 Form shall be generated by the transporter on the said portal on the basis of the information furnished by the registered person in Part A of FORM GST INS-01.
Important Points Relating to Form GST INS-01
The registered person or the transporter may, at his option, generate and carry the INS-01 Form even if the value of the consignment is less than fifty thousand rupees.
Where the movement is caused by an unregistered person either in his own conveyance or a hired one or through a transporter, he or the transporter may, at their option, generate the INS-01 Form in FORM GST INS-01.
Availability of unique Form GST INS-01 Number (UBN)
As per sub-rule (2) of Rule (1), upon generation of the INS-01 Form on the common portal, a unique Form GST INS-01 number (EBN) shall be made available to the supplier, the recipient and the transporter on the common portal.
In case of Multiple consignments in one vehicle : Consolidated Form GST INS-01
As per sub-rule (4) of Rule (1), where multiple consignments are intended to be transported in one conveyance, the transporter shall indicate the serial number of INS-01 Forms generated in respect of each such consignment electronically on the common portal and a consolidated INS-01 Form in FORM GST INS-02 shall be generated by him on the common portal prior to the movement of goods:
If the consignor has not generated FORM GST INS-01 but the value of goods carried in the conveyance is more than fifty thousand rupees, the transporter shall generate FORM GST INS-01 on the basis of invoice or Form of supply or delivery challan, and also generate a consolidated Form GST INS-01 in FORM GST INS-02 on the common portal prior to the movement of goods.
Cancellation of Form GST INS-01 when goods are not transported or not transported as per the details furnished
As per sub-rule (6) of Rule, when an INS-01 Form has been generated under this rule, but goods are either not being transported or are not being transported as per the details furnished in the Form GST INS-01, the GST eway Form may be cancelled electronically on the common portal, either directly or through a Facilitation Centre notified by the Commissioner, within 24 hours of generation of the Form GST INS-01:
Provided that an INS-01 Form cannot be cancelled, if it has been verified in transit in accordance with the provisions of rule 3.
Also Read our Other GST Related Articles
Conclusion : Form GST INS-01 Format
If you have any further questions on INS-01 Form GST editorial, post your question on our comments section below.