Query on Proforma invoice and Invoice

This query is : Resolved

Anil (Querist)
Follow

31 August 2009 1) What is the difference between proforma invoice and invoice?

2) Can one book a transaction based on pro-forma invoice without asking for Invoice?

3)While booking imports transaction is it necessary to insist on original physical copy of the invoice or can one just rely on soft copy sent by mail and pass the entry.

Please answer the above questions separately in the order they are asked.

Thanks.

CA CS CIMA Prakash Somani

CA CS CIMA Prakash Somani (Expert)
Follow

31 August 2009 Performs Invoice is Abridged or estimated invoice.

C.A.Suresh Gupta

C.A.Suresh Gupta (Expert)
Follow

31 August 2009 No we should not book the transaction on basis of performa invoice.

It can be used only for adminstation purpose like advance payment, tracking a transaction and all.

Its always better to ask original invoice for so many reasons i.e some time its asked by auditors at the time of audit and some time its asked by assessing officer at the time of assessment.

Upgrade to CAclubindia Pro. Subscribe Now!