Please Help: invoice
Posted Date : 24-Jun-2011 , 10:12:45 am | Posted By:
Category :
Income Tax | Answers :
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Comments :
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whts the difference between retain invoice n tax invoice? |
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Answers:
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 Answer by: Anjali Arora |
| Retail Invoice - for sales made to persons who dont have TIN.... general consumers
Tax Invoice- for sales made to persons/parties having TIN
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| Answer by: CA VIKAS JAIN |
| credit of input tax can be avail on the basis of tax invoice only.
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| Answer by: CA. Sachin Data |
| When a concern sells a product to distributor or any person
in the supply chain but not to the end user, then Tax invoice is generated because it is going to be resold. To issue a Tax Invoice the person who purchases a product must have TIN.
When an end user of the product is purchasing, then consumer
receives the retail invoice.
Tax invoice is entitled to Input Tax Credit in (VAT) whereas Retail Invoice is not because product is not
going to be resold by consumer.
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| Answer by: Vikash Kumar Jha |
| Agree with all
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