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Retail invoice

Anand Sharma (ACCOUNT MANAGER) (28 Points)

31 December 2016

Sir/Madam, Can We shall Goods on Credit through Retail Invoice to our Intra state Customer ? If Yes than Shall we carry forward the Balance due from Customer Sold on credit Through Retail Invoice ? If Yes than can we take Legal Action against that Customer if payment is not received in time more than 6 months ? What are the procedures for legal action ?

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Rama chary Rachakonda (Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294) (3293 Points)
Replied 31 December 2016

There are two types of invoices. 1. Tax invoice and 2. Retail invoice. In case of retail invoice you may not get tax credit as per VAT procedure. where Tax invoice can issue for credit as well as for cash sales .VAT benefits can get on issue of tax invoice.