What is the difference between Commercial Invoice and Tax Invoice???
Difference between Tax Invoice and Commercial Invoice
Irshad (Article) (1426 Points)
12 September 2008
Prabeer
(B. COM (H) CA & CS Final)
(5484 Points)
Replied 15 September 2008
P.N.Srivatsa
(Working)
(29 Points)
Replied 15 September 2008
Commercial Invoice and Tax invoice are the same. This includes various products with selling price and applicable taxes ( vat or cst etc.,). In general , for all local supplies the term commercial invoice will be used. In case of all outside supplies where all types of taxes are levied, the term tax invoice can be used. Conceptually, there is no difference.
Chandra Sekhar P
(G.M. Finance & Accounts)
(116 Points)
Replied 20 September 2008
A commercial invoice can be raised by any seller.
A tax invoice could be given by registered dealer may be service tax provider, TIN (VAT) dealer, CENVAT dealer ( manufacturer, distributor, I or II stage dealers).
Sandip Mhatre
(service)
(33 Points)
Replied 21 September 2008
can i know how to file a vat return & there calculation atly
GUJARAT VALUE ADDED TAX BILL,2003 says in section 60, that the tax invoice should be provided by the seller "at the time of sale". This is not necessarily the time, when the commercial invoice would be issued. So I can't see, as P.N.Srivatsa states, that both invoices are the same. Correct me pls, if I'm wrong.
punit agrawal
(Student)
(27 Points)
Replied 13 January 2010
"Commercial Invoice and Tax invoice are the same. This includes various products with selling price and applicable taxes ( vat or cst etc.,). In general , for all local supplies the term commercial invoice will be used. In case of all outside supplies where all types of taxes are levied, the term tax invoice can be used. Conceptually, there is no difference."
IF THERE IS NO DIFFERENCE THEN PLS TELL ME, WHY THE VAT ACT REQUIRES TAX INVOICE ONLY & NO COMMERCIAL INVOICE OR CASH MEMO. 2nd THING IS WHY SOME COMPANIES ISSUING TAX INVOICE IN SIME CASE AND COMMERCIAL IN SOME OTHERS FOR SAME GOODS SOLD, & R NOT EVEN READY TO CHANGE IT TO TAX INVOICE AS REQUIRED BY VAT WHEN ASKED DURING AUDIT.
Vishnu
(Manager)
(33 Points)
Replied 04 April 2012
santosh Upadhyay
(Employee)
(90 Points)
Replied 21 March 2014
Originally posted by : Prabeer | ||
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Commercial Invoice: The seller's bill of sale for the goods sold, specifying type of goods, quantity and price of each type and terms of sale. Tax Invoice: A document issued by a supplier which stipulates the amount charged for goods or services as well as the amount of Goods and Services on which tax payable. |
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I WANT INPUT ON COMM. INVOICE?
TAKE OR NOT?
karan jit singh
(Consultant)
(1299 Points)
Replied 21 March 2014
Tax invoice is the basic document backed for eligible of Input Tax Credit of Sales Tax .
karan jit singh
(Consultant)
(1299 Points)
Replied 29 May 2014
Ajeet Singh
(Service )
(190 Points)
Replied 03 June 2014
LIVE Course on Foreign Exchange Management Act (FEMA)(with recording)
LIVE Course on Foreign Exchange Management Act (FEMA)(without recording)