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.
Sunil Arora Advocate
(Expert)
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
- Tax on Amount transferred in HUF Account
- Nursery business
- Working on Gold wastage during Melting of old gold jewellery
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- TDS on Dashcam rent and allied services
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- GST input credit on commercial property
- ETDS return q4 25-26
- Gift to nri relatives residing in usa
- Intimation under section 245
- GSTR-9C filing
- Royalty payments to the Mining Department for procurement of murum - GST input
- HOW TO ADJUST CREDIT NOTE AMOUNT ?
- Import Order Cancelled.
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- 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
- Tally: Imported bank entries do not show up in manual reconciliation
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
