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I am trying to find out how the subscription works for automatic invoicing, per moth, per year etc.

Is this possible or do you have to by the same product every time period?

Many thanks

Currently subscription period is set to 1 year or per year. We are working to set this subscription period from the backend. This feature will be available in next 2 to 3 weeks.

The component does not have any invoice system. You have to generate manually or use invoices generated by the payment gateway. Invoice feature will be available later. It can take 4 to 6 months.

any news on this feature.. just installed latest version but i see no option to define the subscription period and what happends after period is over. does it remove the usergroup membership? 

ETA on the invoice regarding subscription renewal?.

You can define the subscription period under the tab - Others -> Enable Renewal. Then, you can enter the duration in months.

After the subscription is over and not renewed, the user is removed from the group.

Invoicing system is delayed by 2 to 3 months. Very soon in the couple of weeks, two new features are coming: payment gateway integration with payage and web services API. After that, we will work on invoicing system.