TechnoGuru.in (Online Store) (50 Points)
08 September 2008Hey All, 1) I wanted to know.... that in Monthly VAT Return.... for purchase .. have given all the TAX INVOICE details for which i shall get the Input Tax credit... but for Retail Invoice i don`t recive any benefit.... so shall i give the details of Retail Invoice for the VAT Return or not.... and is it necessary.... 2) And when i purchase some goods in TAX/Retail Invoice outside State does those invoice do any benefit .... and should i give the details of the same in returns....
M P Singh
(Service - Finance & Taxation)
(180 Points)
Replied 08 September 2008
| Originally posted by :Pranab Beriya | ||
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Hey All, 1) I wanted to know.... that in Monthly VAT Return.... for purchase .. have given all the TAX INVOICE details for which i shall get the Input Tax credit... but for Retail Invoice i don`t recive any benefit.... so shall i give the details of Retail Invoice for the VAT Return or not.... and is it necessary.... 2) And when i purchase some goods in TAX/Retail Invoice outside State does those invoice do any benefit .... and should i give the details of the same in returns.... As per VAT laws of the different states ,we are entitled to claim the "input tax benefit" for the tax paid on the basis of TAX Invoice issued by the seller within that state. And no tax benifit available for the tax paid on the purchases from outside the relevant state against RETAIL INVOICE but as per the requirement of the states we have to furnish the details of all purchases and sales at prescribed place in the monthly return whereever applicable . Regards,
M P Singh |
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