 bill  no 34 of  2018 the compulsory furnishing of bills for goods and services bill,  2018 by dr ramesh pokhriyal 'nishank',  mp abillto provide for compulsory furnishing of bills for goods sold and services provided by the suppliers for goods or services and for matters connected therewithbe it enacted by parliament in the sixty-ninth year of the republic of india as follows:—1 (1) this act may be called the compulsory furnishing of bills for goods andservices act, 2018short title, extent and commencement (2)  it extends to the whole of india2 in this act, unless the context otherwise requires, "prescribed" means prescribed by rules made under this actdefinitions3 it shall be mandatory for every supplier of goods and services to furnish to the person purchasing goods or availing services a bill indicating separately the cost of goods purchased or charges paid for availing services, various taxes and service charges, if anycompulsory issue of bills for supply of goods or service by suppliers of goods or services provider to purchaser of goods or service54 (1) every supplier of goods or services shall maintain a book containing bills in printed, electronic or such other format, as may be prescribed(2) every bill furnished to person purchasing goods or availing service shall contain the following information—(i) serial no;maintaining of books containing printed books by suppliersof goods orservice provider(ii) name, address and registration number of the supplier of goods or services; (iii) name and address of the receiver of goods or services;10(iv)  amount of taxes payable (each tax has to be given separately); (v) description and cost of goods sold or services provided; and (vi) such other information, as may prescribed155 (1) there shall be constituted an authority for registration of supplier of goods or services(2) the authority shall consist of a chairperson and such number of other members as may be prescribedconstitution of the authority for registration of suppliers and service providers(3) the salary and allowances payable to, and terms and conditions of services of the office of chairperson and members shall be such as may be prescribed20(4) the authority shall have its headquarters at delhi and an office in each district (5) the authority shall have such number of officers and staff as it may require for efficient discharge of its functions(6) the salary and allowances payable to, and terms and conditions of services of the officers and staff of the authority shall be such as may be prescribed256 the provisions of this act shall not apply to street vendors, rickshaw pullers, roadside mechanics and such other persons as the central government may, by notification in the official gazette, exemptact shall not apply to street vendors, rickshaw pullers, roadside mechanics etc penalty307 any person who violates the provisions of this act shall be punished with imprisonment for a term which may extend up to six months or with fine which may extend upto rupees one lakh or with bothpower to make rules8 (1) the central government may, by notification in the official gazette, make rules for carrying out the purposes of the act35(2) every rule made under this act by the central government shall be laid, as soon asmay be after it is made, before each house of parliament, while it is in session, for a total period of thirty days which may be comprised in one session or in two or more successive sessions, and if, before the expiry of the session immediately following the session or the successive sessions aforesaid, both houses agree in making any modification in the rule orboth houses agree that the rule should not be made, the rule shall thereafter have effect only in such modified form or be of no effect, as the case may be; so, however, that any such modification or annulment shall be without prejudice to the validity of anything previously done under that rule statement of objects and reasonswith the enactment of the goods and services tax act, 2017, almost all transactions of supply of goods or services have come within the ambit of indirect taxation it has been observed that whenever a product is sold or a service is provided no invoice or bill or receipt is issued for selling the goods or offering the services by the seller or service provider in practice, no record of selling a product or providing service is maintained by persons who offer such services even buyers or persons availing these services for a price do not insist on any invoice, bill, receipt and as a result they may get substandard services and also do not have any mechanism to redress their grievances also, in the absence of any record indicating how much earning was made by the supplier of goods or services like the doctors, ca, chemists, transporters, etc, it becomes difficult to access their income and the extent of tax evaded the bill, therefore, seeks to—(i) make it compulsory to furnish invoice, bill or receipt by seller or service provider for supply of goods or providing of service to the purchaser of goods and services;(ii) make it compulsory for every supplier of goods or services to maintain record of bills issued;(iii) constitute an authority for registration of goods and service providers;and(iv) provide for penalty for violation of the provisions of the acthence this billnew delhi;ramesh pokhriyal 'nishank'january 24, 2018 financial memorandumclause 5 of the bill provides for the constitution of an authority for registration of suppliers of goods and services the bill, therefore, if enacted, would involve expenditure from the consolidated fund of india it is estimated that an annual recurring expenditure of rupees one hundred crore would be involved from the consolidated fund of indiaa non-recurring expenditure of rupees two hundred crore is also likely to be involved memorandum regarding delegated legislationclause 8 of the bill empowers the central government to make rules for carrying out the provisions of the bill as the rules will relate to matters of detail only, the delegation of legislative power is of a normal character———— abillto provide for compulsory furnishing of bills for goods sold and services provided by the suppliers for goods or services and for matters connected therewith————(dr ramesh pokhriyal 'nishank', mp)mgipmrnd—3998ls(s3)—07-02-2018