Pavan (CA) (76 Points)
22 December 2010
Whenever a TAx Invoice is raised for sales made it will have different products sold which are leviable at different rates. If we raise One Tax Invoice for these two products without mentioning the Tax Rates / Tax Amount separately for each of these products and put a consolidated amount. What issues can come up ?
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 22 December 2010
| Originally posted by : Pavan | ||
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Whenever a TAx Invoice is raised for sales made it will have different products sold which are leviable at different rates. If we raise One Tax Invoice for these two products without mentioning the Tax Rates / Tax Amount separately for each of these products and put a consolidated amount. What issues can come up ? |
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its burden of seller to bifurcate the diff tax rated goods and charge diff rate of vat and pay the same, if your invoice bears the above then its ok, or u have make annextures for each invoice seperately for such breakup. otherwise the invoice would be treated at max rate of tax.
CA CS CIMA Prakash Somani
(Landmark Group)
(23502 Points)
Replied 22 December 2010
in this case you may have to bear more tax... if you caught leving less tax
CAclubindia
