28 March 2014
Hello, We are dealing in E-Commerce business. We have a process of generating the invoices electronically. Presently in our brand we are maintaining two types of invoices- Tax invoice and Retail Invoice. These both invoices are generated within the same series. Suppose my first 100 invoices contains first 15 invoices of Tax then 16 & 17 Invoice of Retail and again 18 & 19 invoice of Tax and so on. Now i wanted to knw that do we need to maintain different series for Tax invoices and Retail invoices.
31 March 2014
In fact,retail invoices are also tax invoices only. The main difference is in a retail invoice tax can be included in the price(mrp).You may separate the retail and other tax invoices only for the purpose of calculating the vat collected in them,by a formula.....mjk
CAclubindia
