Page 249 - DCOM308_DCOM502_INDIRECT_TAX_LAWS

Indirect Tax Laws

Notes (v) assists in performing audit and investigation activities effectively;
(vi) checks evasion of tax.

Contents of VAT Invoice

VAT legislations of all States provide for the contents of the tax invoice. By and large there
would be no need for a separate tax invoice, a regular invoice can also be termed as tax invoice
if it has the prescribed contents. Generally, the various legislations provide that the tax invoice
should have the following contents:
(i) the words 'tax invoice' in a prominent place;

(ii) name and address of the selling dealer;
(iii) registration number of the selling dealer;

(iv) name and address of the purchasing dealer;
(v) registration number of the purchasing dealer (may not be required under all VAT
legislations);
(vi) pre-printed or self-generated serial number;

(vii) date of issue;
(viii) description, quantity and value of goods sold;

(ix) rate and amount of tax charged in respect of taxable goods;
(x) signature of the selling dealer or his regular employee duly authorized by him for such
purpose.

Other Invoices

Normally, a VAT dealer is expected to indicate the rate of tax and the amount of tax charged in
the invoice issued. However, in case of small dealers or if the sale is to end consumer, other
invoices are permitted without the details of tax. Such invoices should contain the following
particulars:
(i) name and address of the selling dealer;
(ii) registration number of the selling dealer;

(iii) name and address of the purchasing dealer;

(iv) registration number of the purchasing dealer;
(v) pre-printed or self generated serial number;
(vi) date of issue;

(vii) description, quantity and value of goods sold;
(viii) signature of dealer or his/her representative.

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