Save Rs 588 on a 2-Year Ad-Free CAclubindia Pro Membership. Subscribe Now!

Vat claim

Save Share

This query is : Resolved

Ajay Singh Bhati (Querist)
Follow

21 January 2015 i have received a Tax Invoice from a party. Amt before tax : 1805 Vat @ 16% : 288.80 Net Amt : 2093.80 Now i have paid that party a sum of 1884.42 after deducting 10% discount in final figure for which party also agreed and he wrote the final figure in invoice by hand. My question is, how much VAT i can claim in this invoice? 288.80 or 259.92 which is as per the new final figure.?? Thanks in advance

CMA.Baskar.V

CMA.Baskar.V (Expert)
Follow

21 January 2015 VAT credit can take with valid tax invoice issued by Vendor with their TIN number and most of states made online for tax return filling, which require Customer TIN to whom, sales was made to track Credit taken by Customer against vendor invoice.

so, it is advise to take credit only Rs.259.92 instead of Rs.288.80 and take revised invoice or credit note from vendor to justify the credit availed by you.

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