Difference between Value of supply and Bill of supply under GST terms
What is Bill of supply? How does Value of supply work under GST regime? What are the difference between Bill of supply and Value of supply?
Under GST system, the following information explains about Bill of supply and Value of supply.
As per GST terms, A bill of supply is 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. The value of a supply of goods or services or both shall be the transaction value, which is the price actually paid or payable for the said supply of goods or services or both where the supplier and the recipient of the supply are not related and the price is the sole consideration for the supply.
The details about Bill of supply and Value of supply 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 Value of supply, 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 Value of supply separately below. You may kindly read the below links to know more about Value of supply and Bill of supply.
Meaning of Bill of supply under GST
value of supply under GST
The above information easily explains about Value of supply and Bill of supply.
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