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Grace Period to issue Invoice for goods delivered before GST

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Grace Period to issue Invoice for goods delivered before GST

Post by Evon on Tue Mar 31, 2015 2:47 pm

How long is the grace period granted by Custom to issue invoice goods delivered before GST i.e on 31 Mar 15?

Evon

Posts : 27
Join date : 2015-03-13

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Re: Grace Period to issue Invoice for goods delivered before GST

Post by joseph on Tue Mar 31, 2015 2:52 pm

Not relevant to Customs. But if you are going to issue the invoices after 01/04/15, better back-date them to 31/03/15.

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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

Posts : 277
Join date : 2014-09-25

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Re: Grace Period to issue Invoice for goods delivered before GST

Post by Evon on Tue Mar 31, 2015 3:04 pm

For the goods delivered before GST but invoice after 01/04/15, it is not subject to GST, am I right?

Evon

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Re: Grace Period to issue Invoice for goods delivered before GST

Post by joseph on Tue Mar 31, 2015 3:27 pm

Yes, not subject. We are starting on a new era, start it on a fresh page.

6 years down the road, when Customs decide to do an audit on your company and your GAF file containing old invoices without GST, the person-in-charge is going to have problem answering why no GST charged.

_________________


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

Posts : 277
Join date : 2014-09-25

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Re: Grace Period to issue Invoice for goods delivered before GST

Post by Evon on Tue Mar 31, 2015 3:35 pm

If we have Delivery Order dated 31 Mar 15 duly chopped and signed by customer, is it sufficient to support why it is no GST charged.

Evon

Posts : 27
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Re: Grace Period to issue Invoice for goods delivered before GST

Post by joseph on Tue Mar 31, 2015 7:05 pm

Your records may be missing... new person taking over your place... no one knows what happened so many years ago... your company may be subject to heavy tax investigation and the authority is trying to dig up all the shits.... why all the troubles when you can avoid them now.

_________________


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

Posts : 277
Join date : 2014-09-25

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Re: Grace Period to issue Invoice for goods delivered before GST

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