Invoice against Advance Receipt
Kunal Pansari (Accountant) (1037 Points)
20 April 2021
Is there any time limit for issue of Sale Invoice against Advance received?
4 Replies
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 20 April 2021
If such advance is received towards supply of services, then invoice to be raised within 30 days from date of receipt of advance. No such restriction in case of advance received against supply of goods.
Amogh Gokhale
(Proprietor)
(68 Points)
Replied 20 April 2021
For Advance Received without actual supply, you have to issue 'Receipt Voucher' and not a sale invoice.
CA. Sourav Sarkar
(Chartered Accountant )
(24588 Points)
Replied 20 April 2021
Within 30 days a receipt voucher should be raised for such advances received
CA Altamush Zafar
(GST Consultant)
(15986 Points)
Replied 20 April 2021
There is no nexus between advance receipt and invoice issue.
Invoice is to be issued on or after but within 30 days of provision of service
Invoice is to be issued on or after but within 30 days of provision of service
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