Menu
Bill of Supply or Tax invoice?
An Assesee who sell taxable goods and issue tax invoice. Now he sell one car for which no ITC taken and that fixed asset (car) depreciated value is less than the sale vale. i. e No Margin.So he (assessee)will not collect GST from car buyer. In that situation, an assessee raise invoice or bill of supply? Is e-invoice mandatory for this tranasaction?
Replies (1)
For the sale of the car, the assessee should issue a Bill of Supply instead of a tax invoice. This is because the transaction is not subject to GST, given that no GST is being collected from the buyer. However, e-invoice is not applicable for transactions where GST is not levied, such as this scenario.
Recent Topics :
- Private limited tax audit
- LTCG - SEC54
- Foreign remittance from our client for Co Working
- UDIN generation
- Reply plz guys
- Tax Deduction and Collection Account Number
- Where can students practice XAT PYQs effectively?
- Gst on Guest house 5% without ITC
- How do you collect documents from clients for ITR
- GST ITC on Construction/ Tenant Specific Renovatio
Related Topics :
CAclubindia
