Tax invoice

This query is : Resolved

Rakesh D Chauhan (Querist)
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14 December 2012 HERE I AM CONFUSED ABOUT TAX INVOICE. THE BILL WHICH CONTAINS EXCISE DUTY/CUSTOM DUTY & VAT OR CST IS CALLED TAX INVOICE. BUT HERE I FOUND FROM VAT PRACTIONER THAT THE BILL WHICH CONTAINS CST IS CALLED RETAIL INVOICE. BUT I CAN NOT DIGEST THIS. SO PLEASE HELP ME TO GET OUT OF THIS CONFUSION; & IF YOU HAVE ANY DETAIL NOTE THAN PLEASE SHARE IT.

REGARDS:
RAKESH

CA CS Amit S. Kedia

CA CS Amit S. Kedia (Expert)
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15 December 2012 Tax Invoice is required to make buyer eligible for set off. The retial invoice/Cash memo can also be issued and Vat/Cst can be charged on such invoice but buyer is not eligible for set off..

Rakesh D Chauhan

Rakesh D Chauhan (Querist)
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17 December 2012 YA SIR BUT HERE I FOUND ONE SALES TAX PRACTIONER TELLING THAT; THE INVOICE WHICH CONTAINS CST IS CALLED RETAIL INVOICE THAT'S WHY I AM CONFUSED. I KNOW THEY ARE TELLING ACCORDING TO SALES TAX PURPOSE BUT WHAT ABOUT EXCISE DUTY WHICH IS ALREADY CHARGED ON THAT INVOICE. STILL THEY BELIEVE THAT IS RETAIL INVOICE.

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CA CS Amit S. Kedia

CA CS Amit S. Kedia (Expert)
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17 December 2012 Retail Invoice means the goods which are sold to the buyer are not used for further sale and used for ultimate consumption.