Supply Amount Document For Free

Under the GST regime, an ?invoice? or ?tax invoice? means the tax invoice referred to in section 31 of the CGST Act, 2017. This section mandates issuance of invoice or a bill of supply for every supply of goods or services or both. It is necessary for a person supplying goods or services or both to issue invoice.

A bill of supply is similar to a GST invoice except for that bill of supply does not contain any tax amount as the seller cannot charge GST to the buyer.

A bill of supply is usually issued when a business sells goods and services that are classified as exempt from GST.

The taxable event in GST is supply of goods or services or both. Various taxable events like manufacture, sale, rendering of service, purchase, entry into a territory of State etc. have been done away with in favour of just one event i.e. supply.

An invoice is also known as a bill or sales invoice.? Business Dictionary defines a bill as ?Document evidencing one party's indebtedness to another, such as an invoice.? Each definition refers to the other term as an example.

A typical example can be the bill issued after your stay at a hotel which is to be paid before you checkout. So the main difference is that while an invoice is sent (by the seller), a bill is received (by the customer).

A business registered under GST issues a tax invoice to the buyer. Such an invoice mentions the GST rate charged on the goods and services sold. However, some businesses registered under GST cannot charge any tax on the invoice issued by them. Such dealers have to issue a Bill of Supply.

The GST law has specified the following particulars that should be present in a Bill of Supply: Name, address, and GSTIN of the supplier. Bill of Supply No. ... Date of issue. If the recipient is registered then the name, address, and GSTIN of the recipient. HSN Code of goods or SAC Code for services.