Itc claim

This query is : Resolved

Hardeep Singh (Querist)
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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

Sandeep Dharar

Sandeep Dharar (Expert)
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16 April 2014 Yes the Buyer can take ITC on those goods at the time of sale.

Sandeep Dharar

Sandeep Dharar (Expert)
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16 April 2014 Or at the time of computation of VAT payable.

Hardeep Singh

Hardeep Singh (Querist)
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16 April 2014 IS IT NOT NECESSARY TO HAVE THE WORDS 'VAT INVOICE' ON THE INVOICE RAISED BY THE PARTY TO CLAIM ITC???

Sandeep Dharar

Sandeep Dharar (Expert)
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16 April 2014 No it is not necessary. Only Invoice will fulfill the purpose.

Hardeep Singh

Hardeep Singh (Querist)
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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

Sandeep Dharar

Sandeep Dharar (Expert)
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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.

Rupesh Jain

Rupesh Jain (Expert)
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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.

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