Invoice raised after 14 days

This query is : Resolved

Arihanth Jain (Querist)
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24 March 2010 Sir,

One of the invoiceing requirements in Service Tax is that invoice should be raised not later than 14days from the date of completion of service/receipt of money, whichever is earlier.

Now my query is what "what are the implications if an Indian company does raise invoice lately (after 14days)".

Thanks & Regards
Arihanth

Shyam Lal Naik

Shyam Lal Naik (Expert)
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24 March 2010 The worst that can happen is imposition of penalty u/s 77.

For the purpose of quantification of Service Tax, receipt is relevant. Amt received in advance is taxable.

Issue of invoice is merely a technical infraction.