I am having a ice cream (dealer from havmor) and fruit juices shop in Gujarat. At what rate VAT would be charged from the customer if i want to avail an input tax credit of tax paid to wholeseller?
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Please tell me the rate of vat
Replies (2)
You have to charge the Customer @ 5% VAT Rate
I THINK 5% IS THE RATE IF WE OPT FOR COMPOSITION SCHEME (I.E. LUMPSUM TAX RATE) FOR WHICH NO INPUT TAX CREDIT IS AVAILABLE.
IF IT IS NORMAL TAX RATE FOR WHICH INPUT TAX CREDIT IS AVAILABLE , THAN PLEASE TELL ME IN WHICH SCHEDULE IT IS MENTIONED, ALSO TELL ME IF NOTIFICATIONS OR CIRCULARS ARE ISSUED IN THIS RESPECT
THANK YOU,
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