Hi,
My company is covered under ST and not under sales tax. if my company makes payment to the VAT registered vendor, without taking the VAT invoice, what could be implications for Income tax, or any other act.
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purchase without VAT
Replies (1)
If i am not wrong, ST here means service tax. If you are registered under service tax and paying to the vat registered dealer, then you have no need to take the Tax Invoice, (Remember Tax Invoice and not VAT Invoice). You have to take retail invoice from the dealer and there is no other implication for Income Tax and any other act, as you will not be able to claim the vat input, bcoz. you are not the registered dealer under sales tax deptt.
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