Two parties are following
1. Purchaser
2. Supplier
agar koi purchaser pura VAT supplier ko deta hai aur supplier government ko VAT nahi bharata aur agar purchaser VAT claim karta hai to konsi party default me hai? aur agar ham jante hai to kya kar sakte hai ? its urgent
supplier will be default.
the supplier will be in default..... and we can inform the commercial tax department but there is not need for that,,, you have to do just file your vat return timely and take credit against tax invoices containing valid tin number............ :)
Supplier is in default
if you are doing audit of this supplier keep this point in your audit working paper with all supporting
and advice supplier to pay vat to goverment also keep record of this transaction
Triveni Turbine Limited
Bengaluru
CA
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CAclubindia
