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.
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..
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.
CAclubindia
