Purchase of stock from unregistered Distributor
This query is : Resolved
09 April 2008
Hi,
Friends & Respected Experts,
If anyone purchases inventory without paying VAT or from an unregisterd seller or distributor and sells the same at 4% or 12.5% VAT.
So how to show the same in accounts?
As 4%or12.5% VAT Purchase or 0% Vat Purchase?
Please do the needful help or advise about the same.
Friends & Respected Experts,
If anyone purchases inventory without paying VAT or from an unregisterd seller or distributor and sells the same at 4% or 12.5% VAT.
So how to show the same in accounts?
As 4%or12.5% VAT Purchase or 0% Vat Purchase?
Please do the needful help or advise about the same.
10 April 2008
If purchases were made from unregistered dealer, who is not legally exempt, VAT will have to be paid by the purchaser on such purchaser, at the applicable rates for the goods. This VAT is available for set off when sale is made by him.
11 April 2008
Sir,
Suppose i don't have the tax invoice but i have actually paid the VAT on the purchases and selling those goods with VAT then will i get the input VAT credit for the purchases made in absence of tax invoice.
And also advice how to disclose those purchases? As 4%or12.5% VAT Purchases or 0%VAT Purchase.
Suppose i don't have the tax invoice but i have actually paid the VAT on the purchases and selling those goods with VAT then will i get the input VAT credit for the purchases made in absence of tax invoice.
And also advice how to disclose those purchases? As 4%or12.5% VAT Purchases or 0%VAT Purchase.
11 April 2008
Without tax invoice how can u claim credit?
13 June 2014
if a registered dealer purchases goods from URD, he is liable to pay purchases tax.
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