CAF-2 · Chapter 19 · Question 7 of 15
A registered manufacturer makes a taxable supply to an unregistered person. Under Section 23, the manufacturer must mention the buyer's NIC or NTN on the tax invoice. What is the exception to this rule?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: B) B) If the supply is made by a retailer to an ordinary consumer and the transaction value inclusive of sales tax does not exceed Rs. 100,000.
Explanation
The requirement to mention the NIC or NTN of an unregistered person does not apply to supplies made by a retailer to an ordinary consumer where the transaction value (inclusive of sales tax) does not exceed Rs. 100,000.
More Returns and Records MCQs
- Q9What is the statutory retention period for maintaining sales tax records (such as tax invoices, bank statements, and inventory records)?
- Q10Under the rules for digital transactions, what specific reporting requirement is imposed on every online marketplace?
- Q11According to the rules on maintaining sales tax records, in which language(s) must a registered person keep their records at their…
- Q12For the purpose of conducting a sales tax audit under Section 25, what is the maximum time limit within which the officer of Inland…
- Q13During a sales tax audit, if a registered person fails to produce the required accounts, documents, or electronically kept records, what…