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
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
- Fixe term employment
- Is any professional CA is here please reply
- Gift Received from nonblood relative
- Foreign lottery ticket bought online from India: legality, tax and consequences
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- Putting a heading on received mail
- Section 50-fixed asset-->building ceases to exist
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- Reprocessing of rectification order AY 2025-26
- FTS Taxable under 115A
- 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
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
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
