Itc claim
This query is : Resolved
16 April 2014
PARTY RAISES BILL FOR SELLING FOOD BEVERAGES (LIMCA & SPRITE)AND CHARGES VAT ON THE BILL FOR INTRA STATE SALE BUT THE BILL IS HEADED AS 'CASH MEMO/BILL' AND WORDING 'VAT INVOICE' (AS REQUIRED BY THE VAT ACT) HAS NOT BEEN MENTIONED.
CAN THE BUYER TAKE CREDIT OF VAT CHARGED BY SUCH SELLER
CAN THE BUYER TAKE CREDIT OF VAT CHARGED BY SUCH SELLER
16 April 2014
Yes the Buyer can take ITC on those goods at the time of sale.
16 April 2014
Or at the time of computation of VAT payable.
16 April 2014
IS IT NOT NECESSARY TO HAVE THE WORDS 'VAT INVOICE' ON THE INVOICE RAISED BY THE PARTY TO CLAIM ITC???
16 April 2014
No it is not necessary. Only Invoice will fulfill the purpose.
16 April 2014
DEAR SIR I'M STILL IN CONFUSION BECAUSE AS PER HARYANA VAT RULES, A VAT DEALER MUST ISSUE TAX INVOICE WHEN SELLING INTRA STATE TO ANOTHER VAT DEALER AND HIS BILL MUST SHOW PRESCRIBED DETAILS INCLUDING 'TAX INVOICE' AT THE PROMINENT PLACE.
SO NOW IF ANY VAT DEALER RAISES BILL WITHOUT HAVING THESE WORDS OR HAVING WORDS LIKE CREDIT MEMO/BILL ETC. CAN THE PURCHASER CLAIM ITC.
PLEASE DO ELABORATE YOUR ANSWER
THANKS IN ADVANCE
SO NOW IF ANY VAT DEALER RAISES BILL WITHOUT HAVING THESE WORDS OR HAVING WORDS LIKE CREDIT MEMO/BILL ETC. CAN THE PURCHASER CLAIM ITC.
PLEASE DO ELABORATE YOUR ANSWER
THANKS IN ADVANCE
16 April 2014
Ya it can b. if it is purchased in cash then the memo can show cash invoice. But tell the dealer that afterwards they will try to issue tax invoice. But there is no problem in cash memo also.
19 April 2014
R/SIR
FOR SALE IT IS REQUIRED TO ISSUE VAT INVOICE AND INVOICE ALOW BEARING TIN NO OF SELLER. IF BUYER IS ALSO A VAT DEALER AND HE WANT TO TAKE CREDIT ON VAT THEN BUYER TIN NO. ALSO BE ON THE INVOICE OTEHRWISE NO VAT CALIMABLE BY BUYER DEALER.
FOR SALE IT IS REQUIRED TO ISSUE VAT INVOICE AND INVOICE ALOW BEARING TIN NO OF SELLER. IF BUYER IS ALSO A VAT DEALER AND HE WANT TO TAKE CREDIT ON VAT THEN BUYER TIN NO. ALSO BE ON THE INVOICE OTEHRWISE NO VAT CALIMABLE BY BUYER DEALER.
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