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The Late Payment Invoice is a critical document used in Indian business operations when payments become overdue beyond the agreed terms. It serves as a formal mechanism for claiming delayed payments and associated charges, particularly important under Indian commercial law which provides specific provisions for late payment penalties and interest calculations. The document is especially significant for MSMEs under the MSME Development Act 2006, which mandates payment within 45 days and provides for compound interest on delayed payments. This document should be used when original invoice payment terms have been breached, incorporating all necessary details including original invoice reference, delay period, interest calculations as per applicable rates, and GST implications. It forms a crucial part of the accounts receivable process and can serve as legal documentation in case of payment disputes or legal proceedings.

1. Invoice Header: Company details, invoice number, date, and 'Late Payment Invoice' clearly marked

2. Original Invoice Reference: Details of the original invoice including invoice number, date, and amount

3. Payment Terms: Original payment terms and due date as agreed

4. Delay Details: Period of delay calculation from due date to current date

5. Interest Calculation: Detailed breakdown of interest calculation, including the rate applied as per agreement or MSME Act

6. GST Details: GST implications on late payment charges, if applicable

7. Total Amount Due: Clear statement of total amount including original invoice, interest, and any additional charges

8. Payment Instructions: Bank details and payment methods accepted

9. Contact Information: Details for payment-related queries and correspondence