On every sale to registered dealer within state which is taxable, a VAT Invoice or Tax Invoice to be issued
Contents of VAT Invoice
- Word Tax Invoice or Retail Invoice in prominent place
- Name Address,Registration number of Selling Dealer
- Name Address,Registration* number of Purchasing Dealer
- Preprinted or self generated serial number(Invoice No.)
- Date of Issue
- Description,Quantity and Value of goods sold
- Rate and Amount of tax
- Signature of Selling dealer or his regular employee duly authorized by him
Exam Questions
Question 15
State with reasons in brief whether the following statements are correct or incorrect with
reference to the provisions of value added tax laws:
(i) It is permitted to issue „tax invoice‟ inclusive of VAT i.e., aggregate of sale price & VAT.
(i) Incorrect. One of the requirements under the contents of the tax invoice is that rate and
amount of tax charged in respect of taxable goods should be distinctly shown in the „tax
invoice', in order to claim input tax credit.
