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Input vat credit

VAT (Legacy) 227 views 2 replies
Company ABC purchased some goods from Mr. X. As per valid Tax Invoice, company takes input VAT credit However a) Mr. X fails to deposit Tax to government b) Mr. X deposits Tax to government, but not provide purchaser details in annexure J1 / J2 Can department demand the tax amount from Company ABC in above independent cases ?
Replies (2)

In most of the cases they demand because they think that ITC is taken on the basis of bogus purchases. but if your case is genuine you can claim ITC by showing TAX INVOICE, PAYMENT DETAILS. in the reply to sales tax officer submit tax invoice, ledger,payment details. he will allow the same.

Thanks for giving reply .....

 

 

 


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