"ModelState.IsValid" tells you that the model is consumed by the view (i.e. PaymentAdviceEntity) is satisfy all types of validation or not specified in the model properties by DataAnotation.
In this code the view does not bind any model properties.
So if you put any DataAnotations or validation in model (i.e. PaymentAdviceEntity). then the validations are not satisfy.
say if any properties in model is Name which makes required in model.Then the value of the property remains blank after post.So the model is not valid (i.e. ModelState.IsValid returns false).
You need to remove the model level validations.