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I want to know that can we get input vat credit against tax
invoice/retail invoice/& commercial invoices. Our auditor is
saying that only tax invoice is libel for vat input credit.
But many parties issue us retail invoice & commercial invoice.
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Answer / n.chandra shekar
we take any vat paid invoice(with in the state),can take
input credit.
| Is This Answer Correct ? | 8 Yes | 1 No |
Dear we just take input vat credit only against Invoices in which vat is paid.
the parties who issued you retail invoices, Commercial Invoices if they are not registered then u cannot claim
for vat u just take this invoices gross value as unreg taxpayer in purcase annex
Thanks
| Is This Answer Correct ? | 2 Yes | 0 No |
What is MAT stands for?
I have some queries about Service Tax, I am working in a Insurance Broking Company. 1) We have raised one bill on 25.04.09 for the services provided by us in the month Mar, 09 Now We received the chq on May, 09 followed in the Month of June,09. When the service tax is actually payable in the month of received of Service tax amount or in the month of services actually provided by us (Mar09) 2) Can we take 100% credit of Service Tax Input paid to those who provided services to us. Suppose Service Tax payable is Rs. 100/- and Service tax charged by the other firms/company Rs. 80/-. The question is That can we deduct Rs. 80/- (already paid). Now Net ST payable would be Rs. 20/- or other percent of service tax input is available 3) What is the rate of interest for Service tax if not paid on time. Pls help me out asap
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Audit 
