Dear All
My question to you that one of my client had purchased goods & made payment to supplier but due to some business dispute the supplier is not ready to provide the invoice now how it will be adjusted in the books of accounts ? Whether income tax authorities will allow it as a purchase of goods & whether sales tax officer will give input credit on goods purchased ?
if you have appropriate evidence relevant to the purchase for which u claimed input from govt., then dont wory..! but u should have Tax invoice relevant to the purchase.
Otherwise sale tax deptt not treated as purchases eligible for input tax credit.!
Party from which u have bought the goods entered this sale in Seller 2B online.. then u can claim input tax.!
income tax doesn't allow it as purchase... as u dnt have bill for that.!
please arrange bill to claim input.. becoz if u fill this purchase in ur 2A , then seller doesn't show it in his 2B. then it should be mismatch.! on the basis of which Sales tax deptt. can issue order against with additional tax with interest and minimum of Rs. 10000/- penalty.
so please before claiming of input credit, u should have tax invoice mentioning ur TIN No. and Sellers TIN No.
Regards
Piyush Tanwar
Article Assistant at Tiwari & Associates, Karol Bagh, New Delhi
Email- imcoolpiyush.tanwar @ gmail.com
Mobile No. - 09717468521
Naveen Fintech Pvt Ltd
Kolkata
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