When a company sells a product to distributor or any person
in the supply chain but not the end user then Tax invoice is
generated because it is going to be resold. To issue a Tax
Invoice the person who purchases a product must have TIN
(Tax Identification Number).
When an end user of the product is purchasing then consumer
receives the retail invoice.
Main and straight difference between Tax Invoice and Retail
Invoice is Tax invoice is entitled to Input Tax Credit in
(VAT) whereas Retail Invoice is not because product is not
going to be resold by consumer.
Corporate Laws and Indirect Taxation Laws Practitioner.
I have applied for my clients registration under Gujarat VAT. he has a purchase bill in which he has paid VAT and it is a Tax Invoice. Now is it okay i mean he is not having valid registration number under Guj VAT Act (however he has applied)????????Rgds,