05 January 2013
We have sold Company furniture & airconditioner to our CEO while leaving the organisation & raised sales invoice on him.Should we charge vat on his sales bill.If yes what will be the %
Guest
Guest
(Expert)
06 January 2013
06.01.2013
Dear Prashant,
The higher of VAT @ 12.5% or the VAT rate prevalent in the State of sale is chargeable in the sale invoice.
Thanks and regards, For P S Chavan & Co., Chartered Accountants
CAclubindia
