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Tin applied sufficient to claim itc

CMA Sachin Chutani (EMPLOYED) (38 Points)

05 April 2016

Hello, I want to know that.... I m a dealer of a pvt company, and company issues tax invoice to its dealers. As i m newly connected with the company, so i dont have TIN... Company wants i should apply, My qns is that can i buy products from company and claim input tax credit after appliying for TIN, Eeven if TIN is not alloted to me?? Thankyou

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2 Replies

Kunal Pansari (Accountant) (1037 Points)
Replied 08 April 2016

You must have a TIN Number to claim Input Tax.

CMA Sachin Chutani (EMPLOYED) (38 Points)
Replied 09 April 2016

Thankyou kunal for your valuable advice... Actully i had bought products from company and company issuing me tax invoice.... I had applied for TIN and departmrnt had issued me SRN.. Company asked me for TIN and my reply was A/F.... i.e applied..

In my down line, small dealers are here, they have same situation(apply for TIN)...

My Qns is that... can i issue TAX INVOICE to my downline dealer??

If not, then how can i issue invoice

Eg. I bought products from my company worth Rs. 10,00,000 on which company charge VAT @ 10%...

Value : 10,00,000

+ VAT : 100000

TOTAL : 11,00,000

NOW MY INVOICE WHAT SHOULD BE..

CASE (1) TAX INVOICE

VALUE : 12,00,000 + 1,20,000 = 13,20,000

CASE (2) TAX INVOICE

VALUE : 12,00,000 + 1,00,000 = 13,00,000