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What is the difference between tax invoice and retail invoic (VAT)

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This query is : Resolved


( Author )
28 November 2011

please reply as soon as possible.


RAMESH KUMAR VERMA

( Expert )
28 November 2011

There are two types of invoices that can be issued:

1.Tax invoice

2.Retail invoice


Under VAT, tax invoice is a very important document. A registered dealer selling goods to another registered dealer shall issue tax invoice.

A tax invoice should contain the complete details about selling as well as purchasing dealer. The invoice should also contain details about sale viz. description of goods, quantity, rate per unit and total value of goods.

A tax invoice should contain the complete details about selling as well as purchasing dealer. The invoice should also contain details about sale viz. description of goods, quantity, rate per unit and total value of goods.


Retail invoice should contain the same details in tax invoice except TIN of purchaser. A retain invoice may also be in the format for tax invoice. But on the top of the invoice, instead of tax invoice, retail invoice should be printed.

A tax invoice shall be prepared in triplicate. The ‘original’ and ‘duplicate’ copies shall be issued to the purchaser and the selling dealer shall retain ‘triplicate’ copy. Retail invoice may be prepared in duplicate.

A retail invoice can be signed by authorized person.

MORE INFO:

http://www.caclubindia.com/experts/difference-between-tax-invoice-and-retail-invoice-398945.asp

http://www.commercialtax.gujarat.gov.in/vatwebsite/vat/VatFAQMain.jsp?viewPageNo=10


Taslim

( Author )
28 November 2011

thank u for your prompt reply.


RAMESH KUMAR VERMA

( Expert )
29 November 2011

thanks taslim G for posting query in ca club india.


thanks once again to thank me.


Mohan Verma

( Expert )
29 March 2013

If I Am registered dealar selling the goods From DELHI To Punjab to a registered dealar, should i hanve to issue Retail Invoice or Tax Invoice


RAMESH KUMAR VERMA

( Expert )
30 March 2013

verma sir,

Retail invoice shall be issued for interstate sales.


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