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Invoice against Advance Receipt
Is there any time limit for issue of Sale Invoice against Advance received?
Replies (4)
Quick Summary
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.
For Advance Received without actual supply, you have to issue 'Receipt Voucher' and not a sale invoice.
Within 30 days a receipt voucher should be raised for such advances received
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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