VAT

A supplier has billed a customer as under:

Rs.112500/- (which comprise of Rs.100000 as material cost + Rs.12500 as VAT). But he has not shown VAT %age separately in the invoice on the ground that the customer cannot claim Input credit. Is it permissible?

Replies (4)

hey on the invoice if it is written like this than credit is available

net amount        100

vat @ 12.5%         12.5

total                      112.5

or IF is written like this directly

total                         112.5

THEN IT IS CONSIDERED RD PURCHASE WHICH IS NOT ELIGIBLE FOR SET OFF

 Hello sale tax consultants/Lawyers,

                                                             I want to know if  goods (chemicals) imported from foriegn country & sold in maharashtra & outside will they be taxable in mvat & cst   &  for any  of your answer may i get the clause no

NO It is not permissable if written like that

Under VAT, a dealer has to seperately mention the amount of Tax in invoices.

So, it is not permissible to include the amount of tax in total value.

 

Further, I don't understand the logic behind this. He may use another better option to issue a retail invoice and the vat credit will not be available to the purchaser.......

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