Hi, what if there is discrepancy of like .02 due to conversion from Usd to AED using 3.6725. In filling vat return which amount must be used? Is it the written VAT amount in the invoice or we stick on Gross amount which the customer pay us?
It is always preferable to have the companies name and TRN available for claiming input VAT. This may be missing in a simplified tax invoice. The law doesn't deny claiming such invoices, as long as it is for business purposes. -MSI Team
@@MSIAuditors I came across few auditors who simply force the company not to claim those Invoices, the point that clarification also mentions there could be less information in a simplified Tax Invoice still few are reluctant to accept such Invoices. Thus, companies are either not claiming the Invoice or the firm mention in their quarterly/monthly report.. Vague!
@@zash9826 This is a call the management of the business needs to take. Since you rightly stated, the law doesn't discuss if this is claimable, nor does it state that it is not. The conservative approach is not to claim this invoice.
@@MSIAuditors it is a tax invoice just that's it's not as detailed - as the tourist aren't registered for VAT and none of their details are mentioned except their name. For example an invoice for supermarket for 10k will be same as their invoice 10AED.
Hi it’s great to hear you! few of our vendors (Pathan mechanic) for services gives a simplified version with Their TRN and with just service mentioned in the details and the amount (say1000/-) There is no specific tax calculation. Am I eligible to claim input ?
