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Invoice against Advance Receipt

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Accountant
1037 Points Posted on 20 April 2021
Is there any time limit for issue of Sale Invoice against Advance received?
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On 20 April 2021 at 14:43 Report
Replies (4)
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CMA
13117 Points Posted on 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.
92 Reply
On 20 April 2021 at 15:31
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Proprietor
95 Points Posted on 20 April 2021

For Advance Received without actual supply, you have to issue 'Receipt Voucher' and not a sale invoice.

1 Reply
On 20 April 2021 at 17:44
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Chartered Accountant
24588 Points Posted on 20 April 2021
Within 30 days a receipt voucher should be raised for such advances received
129 Reply
On 20 April 2021 at 18:27
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GST Consultant
15986 Points Posted on 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
55 Reply
On 20 April 2021 at 19:20


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