Account
This query is : Resolved
02 December 2011
Hi sir\Mam
What is the benifite of purchesing goods from URD(Unregester diler)Becuse they not given any Invice ?How we have to make sure on that entry in our account?
What is the benifite of purchesing goods from URD(Unregester diler)Becuse they not given any Invice ?How we have to make sure on that entry in our account?
CA. RICHI SAXENA
(Expert)
02 December 2011
Dealers who are not registered under the VAT Act are called as Unregistered Dealers (URD). Such dealers cannot issue tax invoice. They can neither Charge Tax nor Claim Input Tax Credit.
There is no advantage of purchasing goods from such dealer because the purchaser will not be able to take any input tax credit on the goods purchased from such party and as such will have to bear higher tax on sales if it sells by adding vat on the goods.
For passing entries in our account just simply debit purchase account and credit party account.
CA. RICHI SAXENA
There is no advantage of purchasing goods from such dealer because the purchaser will not be able to take any input tax credit on the goods purchased from such party and as such will have to bear higher tax on sales if it sells by adding vat on the goods.
For passing entries in our account just simply debit purchase account and credit party account.
CA. RICHI SAXENA
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Transfer of Physical Stock Between Two Proprietorship Concerns
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Issuing of delivery challan by seller of goods
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- EPF ECR NEW RULES Sep 17th 2026
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
