Continuous supply - advance received
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 April 2012
The supplier has a continuous supply agreement with a vendor. As per the agreement, he is required to raise invoice on vendor on quarterly bais.
The supplier receives adavnce from vendor and pays service tax on it within due time line. However the supplier does not raise an invoice within 14 days from receipt of advance. Instead supplier raise invoice quarterly. The supplier also pays balance service tax if any payable on invoice within due time line.
Will non-issue of invoice will lead to any difficulty to the supplier?
The supplier receives adavnce from vendor and pays service tax on it within due time line. However the supplier does not raise an invoice within 14 days from receipt of advance. Instead supplier raise invoice quarterly. The supplier also pays balance service tax if any payable on invoice within due time line.
Will non-issue of invoice will lead to any difficulty to the supplier?
25 April 2012
in case of suppier who receives advance in that case such date of advance is considered for s.tax liability....as such there would b no as such difficulty as far as issue of invoice is consnd...
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Reporting Income under Section 44ADA
- Itr 1 processing
- ITR 2 Short Term gain & Long term gain
- Off Market debit and credit transaction
- Showing Gift from relative in ITR for this year
- ITR 1: Details for showing Exempt Income
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR selection for salaries and capital gain less than L
- ITR validation error - Balance sheet is not filled
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
