Quotation Format in Excel, Word & PDF – Free Download

The terms are sometimes used interchangeably, but they can serve slightly different purposes. An estimate usually gives an approximate expected cost, while a quotation generally presents more clearly defined prices, scope, and validity terms.

A quotation carries no payment obligation by itself, and it records no supply. A price quotation format sent to a named buyer states fixed items and rates. Accepting it on those terms can create a contract.

A general rate list circulated to the market works differently. Indian contract law usually treats that as an invitation to negotiate. The buyer’s purchase order then becomes the offer, and the seller’s confirmation closes the agreement.

No. GST law does not prescribe quotation particulars in the same way it prescribes particulars for a tax invoice. Therefore, listing GSTIN, HSN/SAC, or tax breakup is not mandatory when the document is a quotation.

Yes. Every file here downloads as a working document, not a flat image. The Excel and Word versions are fully editable, so the logo, business details, colours, item rows, and terms can all be changed.

Export the finished file to PDF once the quote is final. That keeps the layout and the figures fixed in transit. Most businesses therefore send the quotation template in PDF, even when the file was built in Word or Excel.

GST law prescribes a signature requirement for tax invoices, not for quotations. Buyers still expect one. A signature or stamp shows that the quoted price was authorised by someone who can commit the business.

For emailed quotes, a typed name with a designation is generally accepted. A scanned signature or a digital signature works equally well on a quotation format in PDF.

Either approach can be used as long as the quotation clearly explains how tax is treated.

• Exclusive of GST: Shows the base rate first and GST separately, which is often useful for B2B quotations.
• Inclusive of GST: Shows the final tax-inclusive amount upfront.

A rate quotation format should clearly state which method is being used so the buyer can compare prices correctly.

GST invoice serial-number rules do not apply to quotations in the same way they apply to tax invoices. Businesses can create their own quotation numbering system for internal tracking.

A format such as QT/2026-27/001 can make quotations easier to identify. It also makes an older quote easier to trace when a client comes back months later.

Terms decide how the quote is read if a disagreement arises later. Cover these at minimum:

• Cancellation and revision: What happens if the buyer changes the order after accepting the quote.
• Validity period: The date after which the quoted rates no longer hold.
• Payment terms: Advance percentage, credit period, and the accepted payment modes.
• Delivery or completion timeline: Expected delivery or project completion period.
• Taxes and charges: Whether GST, freight, packing, and installation are included in the quoted price or outside it.
• Scope and exclusions: Work or materials that are and are not included as part of the deal.

The offer lapses once the validity expires. Rates, lead times, and stock availability revert to whatever applies on the day the buyer returns. The seller is then free to requote. Most businesses set it depending on how soon their input costs move.

Yes. A quotation can generally be corrected, repriced or replaced before the buyer accepts it. When revising an important quotation, use a revised reference or version so both parties know which offer is current.

If the buyer has already accepted the quotation, material changes should be agreed between both parties rather than treating the original acceptance as irrelevant.

No. A quotation is an offered proposal rather than a transaction. It creates no ledger entry, moves no stock, and appears in no GST return. GST liability is determined according to the applicable GST time-of-supply rules, not by the creation of the quotation itself.

Yes. An approved quotation carries straight across into a sales invoice, a proforma invoice, or a delivery challan. Retyping is not required as customer details, items, rates, and tax figures are already in place. The quotation module also tracks statuses such as Pending, Partially Done, Closed, and Cancelled.

Yes, a 7-day free trial of the Munim app covers all features. Right from raising a quote to converting it into an invoice. You can try out all the features within the trial period before committing to a paid subscription plan.