Tax / retail invice

No it can't

The Act specifically requires that the words 'Tax Invoice' shud be there on the invoice. If it is not there and even though VAT is being charged the assessee would not be able to claim teh input VAT.

Agree with Giridhar

So does this mean I as a saler if I issue Retail Invoice do not I have to pay govermant the VAT I collect on my Retail Invoice. If I have to pay goverment the VAT I am collecting on my Retail Invoice and the purchasing party can not clame benifit of it does it not violet the the bacis concept of avoidance of multiple taxation that was core to introduction of VAT in the 1st place?

Regards,

Saikat

  Price of goods shown in an invoice can be inclusive of VAT ,in some states. The seller has to declare in his invoice that VAT has been included in the price. The buyer can calculate the amount of tax charged using a formula as per the rate. Suppose the tax charged is 14%,the tax charged will be : Bill amount X14/114=VAT colected. Even if do not collect vat in an invoice the liability of tax will be there......MJK

good conversation

the main reason of having two types of invoice as retail invoice & vat invoice,

1. Reitail sale made through retail invoice to mostly comsumer, who does  not cliam the input tax and  it not compulsory to give the custmer wise detils of buyers to Excise & taxation Department.

2.  Sale made throuh vat inovice to a taxble person, who claim the input tax charged in biill against outputax payble by him and it is compusry to submit the custmer wise detials of sale amount, tax collcted and commodity of goods and any other information required by deparatment wchih is differ state to state. There are smoe information as buyer TIN , amount of VAT Charged and input tax claim is availble on this copy etc mentioned in the vat invoice and these information is not required in retail invoice.

so the main resaion of two type invoice is sepratism of two type sale.

I Think we can claim input tax credit in above case..... if Supplier has charged Vat on Retail Invoice and given all detail i e TIN no and address....................

  Yes ,it is possible.......mjk

A good question is raised by Saikat, Guys pls do reply of his Q.

Comment of Mr Satish Kumar is Answar of all Question......