GVAT Query on Demand against ITC Disallowance
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 February 2011
Friends,
VAT is Channel base tax paying ok
During one assessment & in cross check it was found that XYZ purchased goods from ABC in 2006-07 & purchase payment of was clear by XYZ against Tax Invoice Bill. Now, in ABC VAT return he has not shown the XYZ sale as Tax Invoice in 201A & hence, the disallowance of Input Tax Credit arise in Assessment of XYZ & ultimately demand of the said ITC with Interest, Penalty order given by the officer to XYZ.
Query:
Why should XYZ suffer if ABC not paid VAT to the said government account?
Why department is not taking steps against this type of entity?
Is there any case study that department can recover the whole amount from the ABC instead of XYZ?
Pl give your esteemed suggestions or advise on the said issue it’s urgent.
VAT is Channel base tax paying ok
During one assessment & in cross check it was found that XYZ purchased goods from ABC in 2006-07 & purchase payment of was clear by XYZ against Tax Invoice Bill. Now, in ABC VAT return he has not shown the XYZ sale as Tax Invoice in 201A & hence, the disallowance of Input Tax Credit arise in Assessment of XYZ & ultimately demand of the said ITC with Interest, Penalty order given by the officer to XYZ.
Query:
Why should XYZ suffer if ABC not paid VAT to the said government account?
Why department is not taking steps against this type of entity?
Is there any case study that department can recover the whole amount from the ABC instead of XYZ?
Pl give your esteemed suggestions or advise on the said issue it’s urgent.
02 February 2011
For the fault of Seller buyer should not be punished. Since you have Original Tax Invoices in Hand. Go for Appeal
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
- TDS on Consultancy- Non DTAA
- Depreciation of fixed assets- coop housing society in mumbai
- Reopen of assessment proceeding
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- Gift Received from nonblood relative
- COMMERCIAL INVOICE FOR MATERIAL AND FREIGHT
- Reprocessing of rectification order AY 2025-26
- FTS Taxable under 115A
- Rental income gst and it purpose
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- 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
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
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
