VAT Credit
This query is : Resolved
Rajpara Dipak J.
(Querist)
29 January 2008
While making purchases we receive VAT invoices. whether we can take credit of the VAT paid on purchase if the invoice does not idicate anything regarding " TAX INVOICE " or "RETAIL INVOICE".?
Thanks
Dipak Rajpara
Thanks
Dipak Rajpara
CA Hemant T Dewani
(Expert)
29 January 2008
under vat act if tax invoice is compulsary.ste off is available only on a valid tax invoice
set off cane not be allowed but same can be retrned to the for necesarry corrections their after set off can be claimed
set off cane not be allowed but same can be retrned to the for necesarry corrections their after set off can be claimed
Devendra Mishra
(Expert)
30 January 2008
Yes we can take credit if we have acted in good faith and have taken all reasonable steps of verifying the availablitiy of Vat credit.
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