Dear Sir,
I have received some bill from service period of Feb-2016 & March - 2016. (Bill I.e JCB/Hydra and Tractors).
Contractor has made an invoice in current date & Submitted to me. Please explain how can pass this type of bill. Can i book the bill in this financial year??.
Please suggest.
Thanks & Regards,
Sanjay Vasava
Handling Delayed Service Bills: Record as Current or Prior Expenses, Follow Service Tax Rules, Address Invoicing Delays An individual inquired about handling bills received for services rendered in February and March 2016, which were invoiced later and submitted in September 2016. Responses advised that these bills could be recorded under the current financial year's accounting or as prior period expenses. However, it was noted that auditors might not permit claiming these expenses in the current year if they were provisionally accounted for in the previous year. Additionally, it was suggested to book the bill based on the payment date and adhere to Service Tax Rules, while addressing any delay in invoicing with the Central Excise Officer. (AI Summary)
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