please tell me what is the difference between Tax invoice , retail invoice & cash memo.
girish mangla (practice) (206 Points)
24 March 2008please tell me what is the difference between Tax invoice , retail invoice & cash memo.
Tax Invoice:
Tax Invoice is the invoice to be issued by a Regular VAT dealer to another Regualal VAT Dealer. A registered dealer who is buying vatable goods after payaing VAT then he will be able to claim Input VAT credit only on the basis of Tax Invoice.
Retail Invoice
Retail Invoice is the Invoice to be issued by the Registered VAT dealers to the End User i.e. consumers. Input Tax Credit can not be claimed on the basis of Retail Invoice.
Cash Memo
Cash Memo is generally issued for very small amount and the amount may differ according to the respective state VAT rules. Cash Memo is generally issued for the value less than Rs.500.00
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