If MVAT registration is 29/11/2011 and my first invoice has been of 27/11/2011 for Rs.850000/-.whether I need to charge vat on such invoice and if so , whether buyer will get set off since as on the date of invoice I was not having reg.no.
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Sales prior to mvat registration
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At the time of sale the seller was a URD dealer , so no set off for the buyer . Now subsequently the seller gets registered ,hence,the seller will be liable to levy tax on sales made . For the buyer to get set off for the purchase made during the URD period has to pay TAX on purchases made . If the tax is paid by the buyer then the buyer will definitely get set off ...
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