How to differentiate Transaction value with Taxable invoice?
Difference between Taxable invoice and Transaction value under GST terms
What is Transaction value? How does Taxable invoice work under GST regime? What are the difference between Transaction value and Taxable invoice?
Under GST system, the following information explains about Transaction value and Taxable invoice.
As per GST terms, Transaction value is the price actually paid or payable for the said supply of goods and/or services between un-related parties and price is the sole consideration and
A registered person supplying taxable goods shall, before or at the time of removal of goods for supply to the recipient, where the supply involves movement of goods; or delivery of goods or making available thereof to the recipient, in any other case, issue a tax invoice showing the description, quantity and value of goods, the tax charged thereon and such other particulars as may be prescribed: Provided that the Government may, on the recommendations of the Council, by notification, specify the categories of goods or supplies in respect of which a tax invoice shall be issued, within such time and in such manner as may be prescribed.
The details about Transaction value and Taxable invoice with simple language from GST terms have been mentioned in this web blog separately. We suggest you to read these articles on Transaction value and Taxable invoice, so as to enable you to have a clear idea on these GST terms.
For your immediate reference, we give below web links on Transaction value and Taxable invoice separately below. You may kindly read the below links to know more about Taxable invoice and Transaction value.
Term transaction value under GST
Taxable invoice under GST
The above information easily explains about Taxable invoice and Transaction value.
We hope, you have satisfied with the difference between Transaction value and Taxable invoice explained above. Do you have different thought on difference between Taxable invoice and Transaction value?
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