The Quotation Invoice emerged as a practical solution in Indian business practice to streamline commercial documentation by combining price quotation and invoicing elements into a single document. This document type is particularly useful in scenarios where businesses need to provide detailed pricing information while simultaneously creating a basis for billing. The Quotation Invoice must comply with Indian legal requirements, particularly the GST regime introduced in 2017, which mandates specific information such as GST registration numbers, HSN/SAC codes, and detailed tax breakdowns. It serves multiple purposes: providing clear pricing information, establishing commercial terms, meeting tax compliance requirements, and creating a formal record of the transaction. The document is widely used across various industries and is especially valuable in situations where the quote is likely to be immediately accepted and executed.

1. Company Details: Business name, address, GST registration number, and other relevant contact information of the issuing company

2. Customer Information: Complete details of the customer including name, billing address, shipping address (if different), GST registration number (if applicable)

3. Quotation/Invoice Number: Unique identification number for the document following required format

4. Date and Validity: Issue date and validity period of the quotation

5. Item Details: Detailed description of products/services, including quantity, unit price, HSN/SAC codes, and specifications

6. Price Breakdown: Itemized list of costs, subtotal, applicable taxes (CGST, SGST, or IGST), and total amount

7. Payment Terms: Payment schedule, accepted payment methods, and any relevant banking details

8. Terms and Conditions: Standard terms including delivery terms, warranty information, and cancellation policy