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Retail invoice - tax invoice

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Querist : Anonymous

Querist : Anonymous (Querist)

18 June 2016 dear sir, if we are purchasing the material on retail invoice (including vat) then same material sale out to customer.
at the time of sale, can we charge the vat on that material?
how to treat the purchase material in our books as a tax free purchase or any other?

please explain

CA. Hari Kishan

CA. Hari Kishan (Expert)
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18 June 2016 Should you be a registered dealer you may claim the tax paid on purchase which is separately charged in the tax invoice and raise a sale invoice collecting applicable taxes on the same and the net of the output (-) input tax may be remitted to the local vat office along with return filed.

Querist : Anonymous

Querist : Anonymous (Querist)

22 June 2016 thank you very much...hari

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