Lumpsum scheme

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

29 February 2012 i have registered under lumpsum scheme.

now do i need to take tax invoice or retail invoice does not change any tax aspects.

if i can't tax ITC on tax invoice why i need to take tax invoice ?

please explain what to do ?

Thanks

CA Priti Surana

CA Priti Surana (Expert)
Follow

02 April 2013 If you are registered under lump sum scheme, this will not make any difference to ur supplier. He will continue to issue tax invoices, but u r not in a position to take credit of the tax paid on purchases. Again u r also not authorized to issue tax invoices for sales u make.

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