Tax Invoice

dear tahseen ji,

as far as in my knowledge, tax invoice is only given in case of vat and its not possible in case of central salex tax.

as in cst on retail invoice can be issued and no credit is availed in cst.

regards,

chetan

ca final year student.

Yes Chetan what you says  i think is correct..... i just want to know if the company issued a tax invoice for cst against form c is it against any norms or is there anything that it cannot issue so ???? Please explain.

Tax invoice issues only in local sales to a registered dealer not in cst sales and purchaser takes input credit on tax invoice.

Thank You All

dear tahseen ji,

it is not posssible to issue tax invoice in central.and it is against norms.

only retail invoice can be issued and also forms can only be issued if dealer is registered.

and always remember tax invoice is only and only issued in case of delhi vat.

Regards,

chetan

ca final year student

and also tax invoice is issued if the dealer is registered...

regards,

chetan

ca final year student

Thank You Chetan

1. There is no prescribed format for Invoice to be raised under CST Act.

2. Tax Invoice is the name used under Local VAT Act, and let me remind you, there is no prescribed form for it also. Rules states what it must inlcude e.g. VAT TIN No, declaration, "TAX Invoice" used promintely in the invoice etc.

3. This is for one simple reason, so that when Inoput tax credit is claimed they are backed by TAX Invoice and which can be easily identified and segrated from tones of Invoices.

4. When you issue Invoice for CST Sales, you must remember that NO CREDIT is avaliable to your purchaser for CST paid on it. Now it happnes many times, that as word TAX Invoice is printed on the bill, it is recorded as Local purchase by the data entry person and credit of input taxes is claimed. Then  when it is found afterwards, one is require to pay back the amount along with interest.

5. so as normal business practice, its advisable to issue interstate Sales bills not as Tax Inovice Biils

Thats all

Thank you Mr.Banwat for clearing my pont so well