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Discussion > VAT > Mahavat >

Mvat purchase from manufacturer who is under sec.77(2)

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CA-Article

[ Scorecard : 375]
Posted On 17 May 2012 at 15:39 Report Abuse

My query is; our client purchase material form Videocon electronic items without vat bcoz said company under incentives scheme of vat having certificate for the same(purchase within in maharashtra) Our client sale the same electronic items to end customers/dealers without charging Vat. My Question is how to calculate vat on the basis of gross profit margin? Thax ganesh.ghadage @ aol.com


VINOD M. KHANDE
manager-commercial

[ Scorecard : 29]
Posted On 20 June 2012 at 21:33

Your client has to charge the applicable vat on the value of  purchase of goods plus profit margin

although these goods are purchased from exempted units(units having incentive certificate)

 



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