under UPVAT ACT Invoice?

This query is : Resolved

vikas agarwal (Querist)
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30 December 2007 sir,
kindly answer my following qureies realeated to the UPVAT Act.
1. are the chalan/transfer memo is erased for the every transaction even through TAX/SALES Invoices, Bill/Cashmemo/ Purchase Invoices.
2. Can we charged VAT from Purchaser seperatly in ever Invoices i.e. TAX/SALES Invoices, Bill/Cashmemo under the UPVAT Act.
3. I have purchased footwear ( tax@ 12.5% from unregistred dealer of Rs. 100000.
Now I Sold the same of Rs. 120000.
I paid the tax on purchase from U/R dealer of Rs. 12500. and VAT on sale is Rs. 15000.
So the As per Sec 15(1)
NET TAX PAYABLE=GTP-AITC
GTP (Gross TAX Payable)is Tax Payable on purchase from U/R dealer PLUS VAT on sale is Rs. 15000 i.e. 27500=00
Addmissle ITC for the periodis 12500=00
NET TAX PAYABLE=27500-12500=15000=00
My submmission is that IS IT A DOUBLE TAXATION? YES OR NO and Why?

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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11 May 2012 1. Yes. Now if you have only one document, either tax invoice or challan or sales invoice.

2. Tax is separately charged only in tax invoice.

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