If a person issue invoice without tax and it's been 3 years from then.
amount received will be treated as taxable value or invoice value.
I am asking that to calculate the tax liability.
please answer with proper section number.
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Issue of invoice without tax
Replies (3)
Is it for Taxable Goods / Services or Exempted Goods / Services ???
Unaccounted sale , receipt through cash or bank?
Issuing tax invoice without charging tax is procedural and substantive violation of Act. Amount received is value of goods or services supplied, on which liability to pay tax exists. Supplier may issue debit notes for the amount of tax and only then recipient can claim input tax credit.
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