How to differentiate Bill of supply with Principle of supply?
What is Bill of supply? How does Principle of supply work under GST regime? What are the difference between Bill of supply and Principle of supply?
Under GST system, the following information explains about Bill of supply and Principle of supply.
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 and Principle of supply means the taxable event in GST in 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 favor of just one event i.e. supply.
The details about Bill of supply and Principle 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 Principle 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 Principle of supply separately below. You may kindly read the below links to know more about Principle of supply and Bill of supply.
Meaning of Bill of supply under GST
Term Principle of supply under GST
The above information easily explains about Principle of supply and Bill of supply.
We hope, you have satisfied with the difference between Bill of supply and Principle of supply explained above. Do you have different thought on difference between Principle of supply and Bill of supply?
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