Tax invoice

Save Share

This query is : Resolved

Rakesh D Chauhan (Querist)

14 December 2012 HERE I AM CONFUSED ABOUT TAX INVOICE. THE BILL WHICH CONTAINS EXCISE DUTY/CUSTOM DUTY & VAT OR CST IS CALLED TAX INVOICE. BUT HERE I FOUND FROM VAT PRACTIONER THAT THE BILL WHICH CONTAINS CST IS CALLED RETAIL INVOICE. BUT I CAN NOT DIGEST THIS. SO PLEASE HELP ME TO GET OUT OF THIS CONFUSION; & IF YOU HAVE ANY DETAIL NOTE THAN PLEASE SHARE IT.

REGARDS:
RAKESH

CA CS Amit S. Kedia

CA CS Amit S. Kedia (Expert)

15 December 2012 Tax Invoice is required to make buyer eligible for set off. The retial invoice/Cash memo can also be issued and Vat/Cst can be charged on such invoice but buyer is not eligible for set off..

Rakesh D Chauhan

Rakesh D Chauhan (Querist)

17 December 2012 YA SIR BUT HERE I FOUND ONE SALES TAX PRACTIONER TELLING THAT; THE INVOICE WHICH CONTAINS CST IS CALLED RETAIL INVOICE THAT'S WHY I AM CONFUSED. I KNOW THEY ARE TELLING ACCORDING TO SALES TAX PURPOSE BUT WHAT ABOUT EXCISE DUTY WHICH IS ALREADY CHARGED ON THAT INVOICE. STILL THEY BELIEVE THAT IS RETAIL INVOICE.

CA CS Amit S. Kedia

CA CS Amit S. Kedia (Expert)

17 December 2012 Retail Invoice means the goods which are sold to the buyer are not used for further sale and used for ultimate consumption.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now