Creation of regular invoice for advance payment
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 September 2011
As per Purchase Order 50% is payable in advance while balance after completion.
Regular invoice raised showing total of PO value but payable amount as 50% in terms of PO. Buyer deducted TDS on 100% while releasing 50% payment.
i)Whether this 50% can be recognized as advance payment despite reason that proforma invoice not created?
ii) Is it in order to use other than proforma invoice for claiming advance?
Regular invoice raised showing total of PO value but payable amount as 50% in terms of PO. Buyer deducted TDS on 100% while releasing 50% payment.
i)Whether this 50% can be recognized as advance payment despite reason that proforma invoice not created?
ii) Is it in order to use other than proforma invoice for claiming advance?
15 May 2012
Yes this will be treated as an advance.
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