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Invoice without vat
My Question is:-
If Company received a Invoice without Vat, which entry we pass in tally.
Basically our company deal in agriculture products and we purchase some agriculture products from direct farmer...he has not to raise invoice so how to pass a entry in tally?
Replies (1)
Ankit,
1. When you receive an Invoice without VAT you can book the goods purchased at Invoice price but you can't claim VAT for the same unless it is a VAT Invoice. Please insist on VAT invoice next time.for getting Input Credit.
2. When Goods are purchased directly from Farmers you can book the goods at price at which the farmer sold it to you.
Hope It Clearifies your Doubt
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