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How many days/months can I hold my Invoice without issuing after completion of service.

Others 370 views 5 replies

How many days/months can I hold my Invoice without issuing after completion of service.

The payment of the above invoice is unascertainable , as the client is non-complaince to clearing bills on time.

Can I even postpone to next Financial Year  ?

 

Replies (5)

Under the GST , invoice shall be issued within 30 days from the completion of service (last date) .

BUT however , invoice can be issued even after completion of service BUT liable for PENALTY 

Thank You Naveen ..

When the due date of payment is not ascertainable.

If I Issue Invoice my GST Liability is increased for the month, and client is claiming expenditure without making payments.

We have prior Bills overdues against the client, which is yet to be receivable.

Its a financial burden to the firm.

what course of action is recommended.

 Under GST, in case of taxable supply of services, invoice shall be issued within a period of thirty days from the date of supply of service. 

To avoid the non-compliance and penalties, the invoice must be issued within the due period of time.

Thank You for the response.

FROM THE POINT OF VIEW OF RECIPIENT : recipient of service / goods has to pay the invoices (taxable value + gst) within 180 days from the date of supplier ' s invoice 

otherwise he has to reverse the ITC of the same and liable for interest . 

So here you can only ask to supplier to make payments 

you can not defer your GST liability 

 


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