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The issue is with the output GST tax. Since the tax authorities are of opinion that tax should be submitted after end of the each month. However, the PO's issued by the customer are quarterly or longer period. If i can receive PO how can i raise invoice and settle tax issue. Customer also demand period of supplies in invoice and tax authorities are saying the only issue is with the period mentioned on invoice. The company who supplies is at the loosing end if the returns are not accepted or penalty imposed by tax authorities. Customer has no issue since his job is done long ago and he charged his customer and received payments.
the terms of the contract are not good at all, they are not suitable for this company, why making customer pay each quarter? while the tax due is at invoice issuing , which could be each month?
Well the PO normally issued after3 or more months and subsequently invoices raised and submitted. But gst returns are not accepted for input and output taxes after3 months.
First we clear the question then we move towards answer,
you are saying customer is demanding sales invoice as per the period covered by P.O.
But sales tax deptt. is saying that the sales invoice should be for one month i.e for sales tax period, means your copmany sales tax period is one month.
So how you handle these both issues, did I correctly understand the question??
Agreed with colleagues answers
