7/11/2023 0 Comments Sales invoices![]() Now, the buyer wants to pay but the seller can no longer issue an official receipt because according to the seller all its official receipts have been destroyed during a flood and it already stopped its operation and did not print new sets of official receipts. However, my problem has something to do with the issuance of a Sales Invoice for sale of goods on credit. Feel free to leave your questions or clarifications in the comment box below. I hope this article has been helpful for you. Alternately, the taxpayer may use Service Invoice or Billing Statement. Note: When the taxpayer is engaged in sale of services or leasing of property, it is not necessary to issue a sales invoice since there are no items or goods involved. It serves as basis of the percentage tax liability of the seller.If you are a Non-VAT registered taxpayer engaged in sale of services, you will need to issue the following: a. It will also be the basis of the percentage tax liability of the seller. Sales invoice list down the details of the items or goods sold.If you are a Non-VAT registered taxpayer engaged in sale of goods or properties, you will need to issue the following: a. It serves as basis of the output tax liability of the seller and input tax claim of the buyer.Official receipt is issued by the seller to the buyer as written evidence on sale of services or leasing of properties, as well as acknowledgement on collection of cash payment on services rendered. ![]() If you are a VAT registered taxpayer engaged in sales of services, you will need to issue the following: a. If the sale was paid on cash, the cash invoice is enough. If the sale was on credit, the seller will then issue an collection receipt upon receipt of cash as payment from the buyer. Note: When the taxpayer is engaged in sale of goods or properties, it will need to issue a sales invoice when the goods is sold to the buyer, whether cash or on credit.
0 Comments
Leave a Reply. |