Is the purchase through retail invoice is taxable?????

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Taslim

Taslim (Querist)
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29 November 2011 Piz reply as soon as possible

prasad

prasad (Expert)
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30 November 2011 I ma unable to understand ur quries. Please clarify.

Taslim

Taslim (Querist)
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30 November 2011 when v purchase through retail invoice, are we liable to pay vat ???
And if yes, it is allowable to take input tax credit ???
And when we doing e-filling why we only disclose tax invoice purchase or sales???

MJ Krishnamurthy

MJ Krishnamurthy (Expert)
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30 November 2011 Mr Taslim,
All purchases are to be done through tax invoices, even the retail purchases,by paying VAT.Yes,input tax credit is allowable on retail purchases,subject to some conditions as set out in VAT laws.In e-filing also you have to declare both i.e.purchases against tax invoices and others viz:imports,interstate purchases and from unregistered dealers and also stock transfer receipts of goods.A dealer selling taxable goods should issue taxable invoices and collect VAT as per rules.
MJK

Taslim

Taslim (Querist)
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30 November 2011 What is meant by undertaking???

What is the difference between URD & OGS???

MJ Krishnamurthy

MJ Krishnamurthy (Expert)
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30 November 2011 Mr. Taslim,
An undertaking is an organisation engaged in a business or financial activity.
URD means unregistereed dealer.OGS Don't Know.
MJK

Taslim

Taslim (Querist)
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30 November 2011 So, Are OGS & CST 2 different things???
n sir if u don't mine, i m miss Taslim nt Mr. Taslim

Taslim

Taslim (Querist)
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30 November 2011 Is there any criteria when undertaking is applicable???

Taslim

Taslim (Querist)
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01 December 2011 OGS purchase and sales means???

And is there any change in stipend???

CST purchase and sales means???

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