If a unit who is engaged in production and selling of bricks decides to give the unit on lease to another entity then shold it file the VAT retun.As the the company will not make any purchase or sales and only share the revenue with the Lesse, who will file the return?
Menu
Sales tax return
Replies (3)
Probably it is to be done only by the lessee entity because..........lease transaction wont come under vat.......so the entity which is undertaking the operations would only be liable to complete the necessary compliances........(pl correct me if im wrong)
Probably it is to be done only by the lessee entity because..........lease transaction wont come under vat.......so the entity which is undertaking the operations would only be liable to complete the necessary compliances........(pl correct me if im wrong)
if the lease value is more than 5 lacs per year, you need to get registration under VAT and file returns and pay tax on lease rentals(Ref.to section 2 (29) d of KVAT Act
Recent Topics :
- TAX TREATMENT AND ACCOUNTING ENTRIEOF PERQUISITES
- Gifting money to my father-in-law (my husband's da
- GSTR-1 JSON from marketplace exports (Myntra / Ama
- Question on buy back of shares
- Saving corporate tax completely on profit from rea
- Hi experts need some helps
- A query regarding GST and Place of Supply:
- ADT-3 not filed by previous Auditor
- Revising salary on 24Q Q4 FY 25-26
- LTCG: Home Loan Principal Repayment?
Related Topics :
CAclubindia
