![]() There are separate time limits to issue the invoices for the supply of goods and services. However, the time of raising tax invoices is generally determined by the GST law. Again, a 30-day credit period is applied from the date of the invoice. When it comes to the rendering of services, invoices must be raised monthly by the end of the month. In general trade parlance, for the supply of goods, invoices are raised as soon as the goods are delivered with a usual credit period ranging up to 30 days from the invoice date. To keep track of business income for tax purposes.Invoice can be used as historical data to predict future revenue.To track the inventory of the business.To keep an account of the sales or supplies. ![]()
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