Output VAT
This query is : Resolved
01 December 2009
A customer is not VAT registered(eg.Insurance Co.). The supplier has raised an invoice as under: Value of materials supplied Rs. 112500.00 (i.e,Rs.100000 + VAT Rs.12500)without showing VAT %age separately on the face of the invoice.Is it allowed on the ground that the customer (insurance co.)cannot claim input VAT credit?
01 December 2009
It is the dealer policy whether he will levy the Vat in the Invoice raised by him seperately or not. Whether he will levey or not he will have to pay the Vat. The benefit of Vat Tax Set-off will be allowed only to the Registered Dealer. UrD dealer cannot claim the set-off on the Invoice Raised.
01 December 2009
though, it is required that invoice should show the breakup of tax.
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