Invoice Matching and Input Tax Credit
I am trying to understand issue with GST? Is it true that because Govt system is unable to match invoices (a business and its suppliers) no input tax credit refund has been given and hence no prices have been lowered by many brands. Someone please explain... more
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Dear RN Chopra Input tax credit is to be claimed by the recipient, and the same is adjusted by him on provisional basis. Hence waiting for matching is not required, to lower the prices. Since there is no refund to be processed, You can adjust the input credit in your outward supplies liability. Thanks - CA Ashok Malhotra - 9313888859 more
Sep 24
One anomaly noticed. Now to evade tax, some businessmen: retailers are issuing invoices without proper addresses of the customer or wholesales issuing invoices to retailers without proper addresses. This results in not locating proper retailer: For example an invoice was found: M/s x, y, z Punjab. Which area, which city no body knows. Now after the goods reach that retailer, the invoice is cancelled and the GST amount becomes the profit of the wholesaler. This is for the decision makers to take note of. Whatever good intentions be of the Government, some scrupulous minds find the ways to cheat and evade tax. more
Sep 24
You are right sir. But question is not our assessing others but ourselves. Do I belong to honest or dishonest class? Why should I keep record of others? That's for the Government Agencies.
कबीर जी का एक दोहा है
कबीरा तेरी झोपड़ी गल कटियों के पास
जो करण गे सो भरण गे , तू क्यों बैठा उदास
These 5-10% are the light for other 85-90%. Only these 5-10% are referred to in the educational books and we give examples to our children only of these 5-10%. So, it depends upon who to be. more
कबीर जी का एक दोहा है
कबीरा तेरी झोपड़ी गल कटियों के पास
जो करण गे सो भरण गे , तू क्यों बैठा उदास
These 5-10% are the light for other 85-90%. Only these 5-10% are referred to in the educational books and we give examples to our children only of these 5-10%. So, it depends upon who to be. more
Sep 27
Hello www.send_newpost++iybbfdgxgxiylk++iyaeiybbtrmqfd@localcirclesmail.com, Due to High Workload, I am Currently Checking and responding to email twice a day at 12:00pm(IST) and 4:00pm(IST) If you require urgent assistance that cannot wait either 12:00pm or 4:00 pm,please contact me directly on my cell phone. Thank you for understanding this move to more efficiency and effectiveness.It helps me accomplish more to serve you better. Sincerely, Vijay Chaudhari. more
Sep 24
Once again, I strongly demand that the Govt of India who designed the GST Scheme must also design and prescribe the GST Tax Invoice for the consumers in India as also the procedure for calculating the tax which is so far absent and the cause of irritation and confusion. more
Sep 24
