27 May 2014
sir, i am doing audit of manufacture unit, there are many type of invoice i found like, tax invoice, retail invoice, delivery challan, challan, etc what is the meaning of these bills????,, if any more bills with your knowledge then also say me about that....
In manufacturing industry lots of order are sent on daily basis, so what the company often does, they send the finished goods via delivery challan which contains the information of consigner , consignee,type of goods & total quantity of goods etc & thereafter invoice are issued to the purchaser & u can reconcile the invoice with challan(for quantity , type of goods , purhcaser etc.)from vouching point of view.
Tax invoice is issued for getting the Input credit because without tax invoice buyer can't take the credit of duty paid & Retail invoice is issued when the buyer can't take the benefit of input credit which u can see where no tax is charged by the invoice or CST charge by the seller.
CAclubindia
