Accounting of invoice with date of before 01/july/2017.

Save Share

This query is : Open

LIJO PHILIP (Querist)

25 July 2017 Dear Sir / Madam,

Please guide on, if I have raised a Purchase Order on 15/June/2017 and the seller raises Invoice bearing the Dt: 29/June/2017 (before GST) with VAT. Goods received on 10/July/2017 (after GST) and accounting is done on the same day with Invoice bearing date of 29/June/2017 (before GST).

Query:- Which tax shall be charged on this transaction (VAT or GST).
Is there any rule to process these kind of Invoices after GST date.

Please reply with detailed clarification.

Regards,

RAJA P M

RAJA P M (Expert)

25 July 2017 No doubt and Don't confuse... The invoice date is in june and also It's VAT bill. Then Why you get doubt it's to consider VAT bill and also return your VAT....

LIJO PHILIP

LIJO PHILIP (Querist)

26 July 2017 Sir,
Thanks for your reply, but let me put this in a simple form.

I want to know, is there any time frame (deadline) mentioned to account-for (book) these type of Invoices where Invoice date is of "before GST date i.e. 01/07/17" with old taxation rates and we are processing the same in the month of July-17. In such case can we avail Credit and if, yes then please clarify how !!!

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now