Introduction:
The GST Act came in force from 1st July, 2017. There were many interpretation issues with respect to the definitions, glossary and terms use in the law. Since, such definitions were adopted from various legacy laws in India prior to GST; such as Service Tax, State VAT, Central Excise Act, Luxury Tax, Entertainment Tax, etc. it was difficult to make applicable one definition for different sectors. Hence, some modifications from existing definitions were made. Therefore, it was important to established a nexus of the terms used in the GST definitions. The definition discussed here is”Invoice or Tax Invoice”.
So what do you mean by “Invoice or Tax Invoice”?
Section 2(66) of CGST Act, 2017 – “invoice” or “tax invoice” means the tax invoice referred to in section 31;
Conclusion:
Under the GST regime, “invoice” or “tax invoice” means the tax invoice referred to in section 31 of the CGST Act 2017.This section mandates issuance of invoice or a bill of supply for every supply of goods or services. It is not necessary that only a person supplying goods or services need to issue invoice.