TaxTMI 
TaxTMI 
AMOUNT OF SALE PROCEEDS RECIVED, FAILED TO ISSSUE TAX INVOICE, FOUND AT THE TIME OF FINALISATION, READY TO PAY TAX WITH INTEREST, ANY WAY OUT
AMOUNT RECIVED INVOICE NOT RAISED
12 Aug 2023 
9 Replies 
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Non issuance of tax invoice: issue invoice and pay tax with interest promptly to limit penalties and regularise compliance.
Non-issuance of a tax invoice after receiving sale proceeds requires the supplier to raise the pending invoice (e invoice if applicable) and pay the tax due with interest calculated from the time of supply; interest is automatic and payment should be made via the prescribed form. Voluntary regularisation by issuing the invoice and paying tax with interest is advised, though penalty for non-issuance remains a separate compliance consequence; genuine mistakes may be considered but do not remove the obligation to comply. (AI Summary)
Non-issuance of a tax invoice after receiving sale proceeds requires the supplier to raise the pending invoice (e invoice if applicable) and pay the tax due with interest calculated from the time of supply; interest is automatic and payment should be made via the prescribed form. Voluntary regularisation by issuing the invoice and paying tax with interest is advised, though penalty for non-issuance remains a separate compliance consequence; genuine mistakes may be considered but do not remove the obligation to comply. (AI Summary)