what is tax invoice and retail invoice

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what is tax invoice and retail invoice ..

Tax invoice is one which is issued by registered dealer of
vat to the purchaser in respect of sale of those item on
whish vat is charged & hence if purchaser is also a
registered dealer of vat(if he has TIN No.), he can claim
the credit of vat passed on to him by registered saller
through issue of Tax invoice.For taking input of vat it is
mandatory as per vat act that seller shall issue tax
invoice.Tax invoice contain a TIN No i.e Tax Identification
No. issued by the authority to the dealer.

Retail invoice is one against which input of vat credit
can't be taken & is issued by seller to those dealers who
do not have tin no or to whom who cannot take credit of tax
for any other reason.

Is This Answer Correct ?

25 Yes

3 No

what is tax invoice and retail invoice ..

Answer / vasu

WE can claim ITC(Input Tax Credit) on Tax Invoice. Tax
Invoice is the invoice where Seller TIN no. can identify.
If the seller having no TIN no. then he has to issue
Retail Invoice.

Is This Answer Correct ?

16 Yes

3 No

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