How to book invoices....

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

09 January 2014 We are holders VAT and CST no in the state of gujarat.Our Supplier is in the state of Gujarat and we buy goods from them and sell to our different customers all over India by means of intertransit sales (sale by transfer of documents in title). When our customer places a Purchase Order to us, we places a similar purchase order to our supplier. Suppier raises invoice charging input 4% on our name as buyer and our customer name as Consignee,as the place of delivery of goods are metioned in our PO. We receives the goods from supplier’s factory and delivers to our Customer’s place billing them sales against form "H" as per the PO.

Que:- 1) Should we get input credit of the same.

2) Should our supplier charge vat from us 5%(4+1)

MJ Krishnamurthy

MJ Krishnamurthy (Expert)
Follow

09 January 2014 A locally purchased goods can not be sold by transfer of documents directly. Let the local(Gujrat) supplier charge 5% vat. You have to break it and make another sale by issuing your own invoice.This will be an interstate sale and also it can be against C form.Whether with or without C form you can avail input credit of the local vat paid on purchases. Form H sale is done when you sell the goods to an exporter,who will issue a H form.You may also give a H form to your supplier when you export out of our country....mjk

Querist : Anonymous

Querist : Anonymous (Querist)

10 January 2014 Thanks Mr.Krishnamurthy for revert.

But my que. is We issue our own invoice showing sales against form "H" because our buyer is purchase goods from us for the purpose of Export.

1) When you we raise bill to our buyer against "H" form. our suppier make billing to us against "H" form ya charging 5% vat.???
2)If our supplier charge input vat should we have to given him form "H"???
Plz clarify...

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Joyashish Maitra

Saumil Kapadia

Raj Jaggi

Keshav Dubey

Poojitha Raam Vinay

Subscribe Now

How to book invoices....

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Accountant

Manager- Finance and Compliance

Article Assistant

GST CONSULTANT

CA Final

GST CONSULTANCY