Invoicing
Invoice To Supplier
When a supplier export goods invoice is must as final bill for goods to payment surety and all details mentioned in that with quality, quantity, company, buyer, shipment details. But if he is trader or new entrant and not able to provide you invoice, it can be problem for buyer, because supplier takes all money in advance, so he don’t need to worry for further.
It plays important role as custom clearance
Its plays important role as without invoicing you are not able to out your goods from any country. No matter supplier is giving you invoice or not, you have to show whole documentation at port for custom clearance to be clear your good. Custom officer won’t give you relaxation as supplier didn’t able to provide you document or you don’t have authorised details about preparing invoice with full potential details.
Required By Buyer
When a buyer import international goods final bill is mandatory for him for future revenue, damage, insurance and top of that for clearing goods from that country to own country. Without invoice no shipper will agreed to ship your product.
Required By Customs
The customs rules of the foreign country will require invoice to provide the values on the products you are going to import. No officer will allow you to import your goods without invoice.
An invoice is a just document that describes the goods and services
An invoicing is an important written document that indicates the sale or purchase by authorised supplier or buyer for further process to buy from supplier to buyer.
In invoice contains information about the particular sale transaction, such as buyer’s details, company details, quantity, value, tax, and payment terms etc. No exporter can operate without proper documentation of goods, hence the need for invoice.
An invoice is a just document that describes the goods and services that a company offers to a customer, how much and how client owes payment but this document says lot with some useful and important details which is not possible to hold by everyone.
But as we understand not every buyer or seller able to provide invoice, may be you have license to import or export but you are working as trader so it’s impossible to get or have invoice details for purchasing.
Small businesses often find it difficult to manage their invoicing document and as a result fall in their working capital needs.
This kind of tinny barrier may arise huge problems that directly impact to your business growth
So basically, this document is looks simple to keep records that allow companies to get paid and information about both buyer and seller for their services in terms of sales, company details, tax liability, to show gentility to ship goods but invoicing is critical for small businesses.
If anything found to be unproven, illegal or undertaken by any party it could be important importer or exporter on basis of invoice and details mentioned on that the legal action can be taken.
For example if you are importing in India and you have to provide GST details to make invoices. If you don’t have GST details to provide your supplier you won’t be able to purchase goods. If somehow supplier agrees to sell than you won’t be able ship your goods from that country, because in invoice there particular format to fill details for an invoice shipping from that to another and custom. So it’s a crucial document for buyer and seller to provide otherwise you will definitely face problems.
Apart from GST, Customs law refers to commercial invoices for import and exports. According to current Customs procedures, an importer or exporter must send a commercial invoice and packing list along with the Customs declaration form, i.e. Shipping Bill which is essential for custom purpose this makes examination of quantity and duty easier.