say we raise a gst invoice of 4 lakh on 1st dec 2017
gst will be 18% i.e. rs 72000
case 1 -now say payment is received on 5 th feb - isn't it wrong that i had to pay 72000 in january when i actually received any payment in februrary.
case 2- now say we don't receive payment till 31st march 2018 - how will i account for the same
case 3 - say we dont recieve payment even untill march 2019
this question is based on the fact that we actually have few 2 years bills which are still unpaid.
but the issue now is that i have to pay gst regardless of payment.
Asked 6 years ago in GST
yes sir, this is not a new provision but service tax was very flexible but gst is rigid and strict, this is also one of the reason of rolling out of gst.
now the problem is the invoice with invoice number etc.
our customer are schedule banks,we provide valuation service to different branches of bank.
during service tax regime,we used to just make a provisional invoice and the bank used to make payment usaully in 3 months and we used to make payment in the quater we actually received the payments.
now in gst regime , we are making a actual tax invoice when we actual receive the payment along with the date of payment
but now the bank is saying that in order to receive the gst, you need to give a tax invoice.
the main reason why its not reasonable for us is that
a bank has 10- 20 branches in which we serve
each branch generates a bill every month i.e 10- 20 bill per month
now the head office of bank makes payment of 3 months together i.e. 30 -60 ( usually leaving out few bill, which usually contains 2 -3 same amont.
and the best part is there is no way to tell that the payment made is against which bill and bank never helps in this regard.
also say i give them tax invoice ,they will avail input tax credit, the law says that input tax credit will b added to output tax if not paided till 3 months. how does gov plans on checking payment of every bill?
Asked 6 years ago
