dvat.gov.in Tax Invoice and Retail Invoice

dvat.gov.in Tax Invoice and Retail Invoice

What is Tax Invoice (dvat.gov.in)

• A Tax Invoice is a legal document, which shows the DVAT payable/paid for a transaction. Irrespective of the accounting basis that you follow, you can claim a tax credit only if you hold a valid tax invoice at the time
of furnishing your return for the tax period.
• Every registered dealer must keep a copy of all tax invoices issued by him. Every dealer must preserve all the original tax invoices received by him.

What should a Tax Invoice contain
• the words ” Tax Invoice ” in a prominent place;
• name, address and TIN/registration number of the selling dealer.
• Name and address of the purchaser;
• TIN/registration number of the purchaser, if he is registered;
• individual pre-printed number and date of issue of invoice, description ,quantity, volume and value of goods and tax charged; and
• signature of dealer or his/her authorized representative.

Duplicate and Proforma Tax Invoices
If the buyer claims to have lost his original tax invoice, after the completion of certain prescribed formalities, you may issue him a copy clearly marked as a ‘duplicate’. You may issue a computer printed invoice subject to the following:
• Maintain a serialised number for all invoices, and
• Retain the duplicate copy.

You may also use the format of tax invoice for issuing Proforma invoices. However these should be clearly marked’Proforma invoice not valid for tax credit.’

Retail Invoice
A retail invoice is issued by registered dealer for each transaction of sale exceeding Rs. 25/- in cases other than where a tax invoice is not issued.

A Retail Invoice should contain:
• The words ‘Retail Invoice” or “Cash Memorandum” or “Bill” in a prominent place.• The name address and TIN/registration number of the selling dealer.
• In case of interstate sales, the name , address and TIN/registration number of the purchasing dealer and type of statutory form against which the sale has been made.
• An Individual pre-printed serialized number and date of issue of the retail invoice.
• Description, quantity, volume and value of goods sold and services provided. The amount of tax charged thereon indicated separately.
• The signature of the dealer or of the representative authorized by him.

Your return is self-assessment of your tax liability under DVAT Act, 2004.

Website : dvat.gov.in