Lumpsum scheme

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

29 February 2012 i have registered under lumpsum scheme.

now do i need to take tax invoice or retail invoice does not change any tax aspects.

if i can't tax ITC on tax invoice why i need to take tax invoice ?

please explain what to do ?

Thanks

CA Priti Surana

CA Priti Surana (Expert)
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02 April 2013 If you are registered under lump sum scheme, this will not make any difference to ur supplier. He will continue to issue tax invoices, but u r not in a position to take credit of the tax paid on purchases. Again u r also not authorized to issue tax invoices for sales u make.