Recoverable Input Tax | Can you Claim Input Tax for Missed Invoices? | CA. Manu - CEO, EmiratesCA

[@zakirhussain33]

Nice very good presentation with examples... appreciate

[@faded_boya8920]

Thanks sir, for this vedio My ? We have refund amt tax to claim but if we do vdf 211 the penanty we have to pay seperately or it deduct from refund amt automatic. Pls. Advice.

[@claemirates]

Dear @faded_boyA the penalty while filing VDF will be adjusted against the refund due from FTA.

[@ArshanAmin-b1g]

what if the Invoice entered in previous Quarter has been revised with it's amount?

[@rahibtinwala3290]

Thank you very much sir for sharing such a valuable knowledge.

[@claemirates]

Dear @rahibtinwala you are welcome.

[@DeepakTiwari-zl7rg]

Sir, If return period is monthly then how we take input tax credit on back dated invoice. For example I am going to file return of June 19 month on 28 july 19 but I have some invoices of May 19 month and my accounting software is not allow to book it in back date so can we book may month invoice in July with Vat recoverable and enjoy text credit in July return of may month invoices.

[@umairshah4325]

you are filing june return and you missed may invoice, so may invoice you can include in this return provided the tax impact is more than 10,000 if less than 10,000, then you will lose the tax benefit, that means invoice before tax is 200,000 can be included as voluntary disclosure by paying penalty of 3000 first time and 5000 subsequently upto 24 months, if your accounting software does not allow you, that means we are thinking considering that you forget to include in subsequent period and now it will be subsequentss period.

[@muhammadidrees8466]

Sir we received an email from fta that for ammendment please submit turnover matches with invoices.we will send turnover that we shown in registration time or which we paid to fta

[@claemirates]

Dear @muhammad idrees, it depends on case to case scenarios.

[@muhammadidrees8466]

@@claemirates when we submit ammendment than we received this email.only fta ask for turnover but didn,t mention period

[@earlsebastian9568]

Hi sir, I just want to ask,can I claim input vat if the invoice I received is not the name of our company, some are cash and some are name of our directors

[@matsji]

cannot be claimed, Invoice must be in the name of business

[@umairshah4325]

change the invoice under company name as per the trade license then only you can claim

[@prudhvia6604]

Good explanation sir

[@NaffarHussainOfficial]

Input Tax can be claimed in which period you are receiving Tax invoice and in next period.

[@claemirates]

Dear @NaffarHussainACA, you can claim input tax in the current tax period and in one subsequent tax period only.

[@NaffarHussainOfficial]

@@claemirates no please read Taxable person Guide 10.5

[@gotosuccess847]

What about sales invoice Missed or make a change how to currect

[@claemirates]

Hi @go to success, if the vat impact is less than AED 10,000 then it can be reported in the immediate VAT return and if the impact is more than AED 10,000 then it has to be reported through voluntary disclosure in the respective VAT quarter.

[@gotosuccess847]

@@claemirates thanks

[@ArshanAmin-b1g]

On which date, missed invoices should be added in current VAT Quarter?

[@faded_boya8920]

Tax invoice is cash memo in that vat 5% mentioned then we can claim vat How we confirm that customer paying our vat How method of invoice is compulsory?? If not stamp in invoice it accepted??

[@claemirates]

Dear Sir, kindly note that we are not clear about the scenario. Kindly give us a clear picture.

[@ArshanAmin-b1g]

What Date should we select while entering missed invoices in the current VAT return period?

[@claemirates]

Hi @user-rz8dj1iz9y, you can select the same supplier invoice date.

[@sheenaa9094]

Sir so does it mean that even if the value of vat in the missed invoices is more than 10,000 there's no need for voluntary disclosure? Thanks in advance.

[@umairshah4325]

more than 10000 VAT means invoice is 200,000 and VAT on it 10,000 , so you need voluntary disclosure and pay penalty on it by AED 3000, so it is still better a net profit is by 7000

[@libinbaby4924]

Sir Is that 10000 AED limit is restricted to single invoice? Or can I consider multiple invoices (in case) for that clause

[@libinbaby4924]

It's saying tax impact 10000 AED. Hope that can consider multiple invoices...🤔

[@libinbaby4924]

It's saying tax impact 10000 AED. So , I think can consider multiple invoices.🤔

[@claemirates]

Dear @libinbaby you can consider multiple invoices.

[@ArshanAmin-b1g]

If the Tax Impact Because of that Invoice is less than AED 10,000 - then what will be the penalty for using VDF?

[@claemirates]

Hi @user-rz8dj1iz9y, there will be fixed penalty and percentage based penalty.

[@umairshah4325]

@@claemirates but if the VAT impact is less than AED 10,000 then its loss we can not submit , so how penalty, they mentioned if tax impact is more than 10,000 then submit voluntary disclosure

[@Amazingvideos-ic1kc]

can we claim tax if company TRN not mentioned on Tax Invoice only company name mentioned ??

[@umairshah4325]

haha ye aik bari problem hy common

[@umairshah4325]

The absence of the TRN means the invoice does not meet the FTA's requirements, and the input VAT cannot be recovered.