under UPVAT ACT Invoice?

This query is : Resolved 

30 December 2007 sir,
kindly answer my following qureies realeated to the UPVAT Act.
1. are the chalan/transfer memo is erased for the every transaction even through TAX/SALES Invoices, Bill/Cashmemo/ Purchase Invoices.
2. Can we charged VAT from Purchaser seperatly in ever Invoices i.e. TAX/SALES Invoices, Bill/Cashmemo under the UPVAT Act.
3. I have purchased footwear ( tax@ 12.5% from unregistred dealer of Rs. 100000.
Now I Sold the same of Rs. 120000.
I paid the tax on purchase from U/R dealer of Rs. 12500. and VAT on sale is Rs. 15000.
So the As per Sec 15(1)
NET TAX PAYABLE=GTP-AITC
GTP (Gross TAX Payable)is Tax Payable on purchase from U/R dealer PLUS VAT on sale is Rs. 15000 i.e. 27500=00
Addmissle ITC for the periodis 12500=00
NET TAX PAYABLE=27500-12500=15000=00
My submmission is that IS IT A DOUBLE TAXATION? YES OR NO and Why?





31 December 2007 aa

01 January 2008 ANS.1,yes now if you have only one document either tax invoice or challan or sales invoice ,then ok ANS.2,tax is seprately charged with only Tax Invoice


11 May 2012 This query is resolved, accordingly closed.



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