If a person issue invoice without tax and it's been 3 years from then.
amount received will be treated as taxable value or invoice value.
I am asking that to calculate the tax liability.
please answer with proper section number.
3 Replies
Shivam RC
(Student)
(23683 Points)
Replied 03 January 2021
Is it for Taxable Goods / Services or Exempted Goods / Services ???
Balamurali Unnithan MS
(STUDENT)
(1631 Points)
Replied 03 January 2021
Unaccounted sale , receipt through cash or bank?
chandra bhushan
(8 Points)
Replied 03 January 2021
Issuing tax invoice without charging tax is procedural and substantive violation of Act. Amount received is value of goods or services supplied, on which liability to pay tax exists. Supplier may issue debit notes for the amount of tax and only then recipient can claim input tax credit.
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