Bill of supply is different from tax invoice. Bill of supply is the documents which are issued when a registered person is either dealing in exempted goods or services or he has availed the composition scheme.
E-way has been notified by the government and hence, it has become more important for every taxpayer to know about these rules. This is because if you send your goods without the e-way bill, then your goods shall be liable for confiscation and penalties.
The concept of way bill was also there in the earlier tax regime but it was very difficult and time-consuming system. Now with the introduction of GST, everything can be done online. The new tax has made everything easy and user-friendly
Invoices in goods and services tax are not just important but mandatory as well. It is the basic document for supply of goods and services, as it contains time and place of supply mentioned in it which further helps in tax and valuation.
There are certain transactions which are not treated as supply but are required to be transported from one place to another. In all such cases, tax invoice cannot be issued because it is not a supply and hence delivery challan is required.
Now, here comes the second opportunity for all the registered person who wants to avail or opt the composition scheme till 30th September 2017. Earlier the due date for availing the composition scheme was 16th August.
For any movement of goods across India, the taxpayers can generate a single e-way bill online through a portal called gst.kar.nic.in. Further, with this single e-way bill, the goods can be transported from one state to another without any hindrance.