Input VAT
Querist : Anonymous
We have a dealership business and the spare parts come from company including VAT and we are generally selling this to retail customer by process from Total amount less discount (i.e vat but we not mentioning there for input vat) than we add output VAT.
Is it fair practices which we follow as we not disclosing input VAT to Customer but showing Discount instead of Input Vat. Please Clarify the same and show us the wright process and also in this any case law is there please reply.
Querist : Anonymous
It seems what you are doing is correct. Its normal Practice to issue Invoices. There is no need to show input vat on goods. Under MVAT Act and Rules u can refer Section 86 for the Format of INVOICE.
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