vat adjustment
This query is : Resolved
14 November 2009
hi..
pls. tell me about the following
if a vat registered dealer purchases on tac invoice and he has only retail customers for sale
than how the input vat is treated.
weather the imput vat can be refunded
because at the time of purchase we pay tax but we dont charge vat on retail invoice
pls. tell me by the following eg.
purchase on tax invoice 100
add vat @4% 4
total 104
sale on retail invoce 100
in this case we have input vat but not output vat
and if the input vat is not adjusted it will be accumulated and become a permnent part of our balance sheet
pls. tell me about the following
if a vat registered dealer purchases on tac invoice and he has only retail customers for sale
than how the input vat is treated.
weather the imput vat can be refunded
because at the time of purchase we pay tax but we dont charge vat on retail invoice
pls. tell me by the following eg.
purchase on tax invoice 100
add vat @4% 4
total 104
sale on retail invoce 100
in this case we have input vat but not output vat
and if the input vat is not adjusted it will be accumulated and become a permnent part of our balance sheet
Ram Avtar Singh
(Expert)
14 November 2009
vat to charge on tax invoice and retail invoice also. your billing system is wrong. kindly go to your C.A. he will suggest you.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Taxation of crypto futures in India Fy 2026- 2027
- Issuing of delivery challan by seller of goods
- Transfer of Physical Stock Between Two Proprietorship Concerns
- EPF ECR NEW RULES Sep 17th 2026
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
