Cash Flow Affected for delayed payments, especially in Government Departments
How do we face almost all situations as we have supplies in Government Departments where payment process is very long so much so that it could take more than 60 or 90 days to realize the complete payment. They have got so many formalities and airs of babus as well as officers post supply of material that it is practically not possible to get payments in short time.
As per GST, we have to issue the Invoice/Bill of Supply at the time of supply of material and deposit taxes in the following month. This will affect our cash flow in a big way. And this means that only cash rich businessmen would be able to work in such scenarios.
Please guide if there is any remedy. Expectation from Government is nil in this case.
Thanks & regards,