Sumiti Jain (FP) (1364 Points)
21 January 2011
Pankaj Arora
(Learner)
(3134 Points)
Replied 21 January 2011
No limit and you can not take input credit on purchase from unregd. Dealer.
CA Himanshu Khurana
(Chartered Accountant)
(813 Points)
Replied 28 January 2011
There is no limit for purchase for unregistered Dealers and u can not take Input credit on this purchases
But there is some Expectation in VAT Act. You can take credit of Input Tax if Unregistered Dealer purchase from Registered Dealer & Pay VAT on time of Purchase.
tme s limted,bt drms r unlmtd
(Mba ( fin.) Ca final Student)
(257 Points)
Replied 30 January 2011
| Originally posted by : himanshu | ||
 |
There is no limit for purchase for unregistered Dealers and u can not take Input credit on this purchases But there is some Expectation in VAT Act. You can take credit of Input Tax if Unregistered Dealer purchase from Registered Dealer & Pay VAT on time of Purchase. |
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NOT AGREE
You cant take input from invoices of unregistered dealers
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