Difference between Lost sales and Bill of supply under GST terms
What is Bill of supply? How does Lost sales work under GST regime? What are the difference between Bill of supply and Lost sales?
Under GST system, the following information explains about Bill of supply and Lost sales.
As per GST terms, Bill of supply means a document of transaction that is different from a normal tax invoice. These bills do not contain any tax amount, as input tax cannot be charged in these cases. Lost sales means those selling opportunities that you have lost because an item was out of stock or because you do not carry a particular brand or line of merchandise or any other reason that caused you to lose the opportunity to sell.
The details about Bill of supply and Lost sales with simple language from GST terms have been mentioned in this web blog separately. I suggest you to read these articles on Bill of supply and Lost sales, so as to enable you to have a clear idea on these GST terms.
For your immediate reference, we give below web links on Bill of supply and Lost sales separately below. You may kindly read the below links to know more about Lost sales and Bill of supply.
Meaning of Bill of supply under GST
Term Lost sales under GST
The above information easily explains about Lost sales and Bill of supply.
We hope, you have satisfied with the difference between Bill of supply and Lost sales explained above. Do you have different thought on difference between Lost sales and Bill of supply?
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UTGST Act Section 1 Short title, extent and commencement
UTGST Act Section2 Definitions
UTGST Act Section 3, Officers
UTGST Act Section 4 Authorization of Officers
UTGST Act Section 5, Powers of Officers
UTGST Act Section 6 Authorisation of officers of central tax as proper officer in certain circumstances
UTGST Act Section Levy and Collection of GST
UTGST Act Section 8 Power to grant exemption from GST
UTGST Act Section 9 Payment of GST Tax
UTGST Act Section 10 Transfer of ITC
UTGST Act Section 11 Officers required to assist proper officers.
UTGST Act Section 12 wrong collection of GST paid to Central Govt or UT
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UTGST Act Section 14 dvance ruling
UTGST Act Section 15 Constitution of Authority for Advance Ruling.
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