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NITIN SABOO   12 June 2021

Tax Invoice vs GRN

Can we issue invoice one month later after delivery of material.
please note :- my supplier sent goods in 15th May 2021 and Issued E Invoice and Tax Invoice in today date, on which date we will book in our purchase, on receipt of material or Tax Invoice date. plz suggest


 9 Replies

CA Altamush Zafar

CA Altamush Zafar (GST Consultant)     12 June 2021

On receipt of material.....
CMA Poornima Madhava

CMA Poornima Madhava (CMA)     12 June 2021

Since you have received the material before the date of invoice, you will have to make Receipt Note (inventory) entry on receipt of goods on the basis of GRN and DC.

Once the invoice is received, make purchase entry against the receipt note

1 Like
NITIN SABOO

NITIN SABOO   12 June 2021

Thanks for advice, can supplier do this ??? plz suggest
CMA Poornima Madhava

CMA Poornima Madhava (CMA)     12 June 2021

Supplier can dispatch goods on SALE-ON-APPROVAL basis, in which case, the supplier would have 6 months time to generate invoice. Probably the supplier would have missed to raise the invoice (or some other reason, not sure) and hence this situation I guess.

NITIN SABOO

NITIN SABOO   12 June 2021

Goods not sent by supplier on approval basis madam, gold sold and supplier forget to raise the invoice. can we do this type of practice???
CMA Poornima Madhava

CMA Poornima Madhava (CMA)     12 June 2021

Even I meant the same.

How else can the mistake be corrected in this case?

The supplier has no option but to correct the mistake if it was forgotten to raise the invoice at the time of dispatch.

NITIN SABOO

NITIN SABOO   12 June 2021

Madam, is there any implications on purchaser on this transaction???
CMA Poornima Madhava

CMA Poornima Madhava (CMA)     12 June 2021

Yes, the purchaser will be able to avail ITC only after the date of invoice.

CA Altamush Zafar

CA Altamush Zafar (GST Consultant)     12 June 2021

The practice by your supplier is very dangerous as far as legal aspects are concerned. No movement of goods can take place without invoice.

And no itc can be claimed until invoice is received.

2 Like

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