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Commercial Invoice on LC submit to Bank

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Commercial Invoice on LC submit to Bank

Post by bubu1101 on Sun Mar 29, 2015 12:26 am

Our Customer sometimes will apply LC from Bank to repay the payment to us according the invoice we issue or charge them. Bank sites will request us to submit Commercial Invoice & Delivery order we bill to our customer to them, so, after 1st April 2015, is it we need to include 6% in the commercial invoice ??

We still use commercial invoice to submit to bank or we need to use Tax Invoice to submit to Bank for LC payment??

bubu1101

Posts : 16
Join date : 2015-03-08

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Re: Commercial Invoice on LC submit to Bank

Post by joseph on Mon Mar 30, 2015 9:35 am

Are you referring to export sales? Generally, all exports are zero-rated, so no tax invoice required to be issued.

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DISCLAIMER:
Any opinion expressed is strictly my personal view based on my understanding and interpretation of the GST Act 2014, Regulations, Orders, DG's Panel Decisions and Customs' Guides. You should seek advice from experts and/or the Customs Dept if the subject matter is significant to your business.

joseph

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