Compulsory Issue of Tax Invoice, Cash Memo or Bill by Vision Technology Service

by Saurav Banthia on Monday 27 August 2012, 10:09 AM | Category: Computer Graphics| View: 5598 views
 
 
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Compulsory Issue of Tax Invoice, Cash Memo or Bill


This entire design of VAT with input tax credit is crucially based on documentation of tax invoice, cash memo or bill. Every registered dealer, having turnover of sales above an amount specified, shall issue to the purchaser serially numbered tax invoice with the prescribed particulars. 


This tax invoice will be signed and dated by the dealer or his regular employee, showing the required particulars. The dealer shall keep a counterfoil or duplicate of such tax invoice duly signed and dated. Failure to comply with the above will attract penalty.

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