What are the legal implication underGST, if a registered dealer does not raise the Invoice even after five months of 100% advance given ?
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Gst invoice not raised against advance
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1. As per the GST notification on 15th December 2017, suppliers of goods who have not opted for Composition Scheme are exempted from payment of GST on receipt of advance payment. However, the supplier of services should pay GST at the time of receipt of the advance payment.
2. In case of an advance payment, the suppliers are required to issue a receipt voucher as a proof of received payment. In case of regular payment, GST tax invoice is required to issued.
2. In case of an advance payment, the suppliers are required to issue a receipt voucher as a proof of received payment. In case of regular payment, GST tax invoice is required to issued.
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