Applicablility of mvat
This query is : Resolved
06 February 2012
1. What is the limit for applicability of MVat??
2. A company providing services i.e. not dealing in goods at all allows its employee to take the company's laptop at the time of his resignation for an amount....is VAT applicable and should the company charge VAT from such employee in case the sale value crosses the above limit??
Kindly quote RELEVANT Section number....
2. A company providing services i.e. not dealing in goods at all allows its employee to take the company's laptop at the time of his resignation for an amount....is VAT applicable and should the company charge VAT from such employee in case the sale value crosses the above limit??
Kindly quote RELEVANT Section number....
Prakash Kochar
(Expert)
09 February 2012
Statutory liability for registration under MVAT Act id turnover of local sale exceeds the limit of Rs. 5,00,000/- or the limit is Rs. 100,000/- if he is importer and turnover of taxable goods is Rs. 10000/- or more as per sect. 3(4).
2.As per sect. 2(8) explaination (x) company will be deemed dealerliable to pay VAT if the total amount collected during a finanacial year exceeds the limit of rs. 5,00,000/-
2.As per sect. 2(8) explaination (x) company will be deemed dealerliable to pay VAT if the total amount collected during a finanacial year exceeds the limit of rs. 5,00,000/-
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Tax on Amount transferred in HUF Account
- Nursery business
- GST input credit on commercial property
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- Working on Gold wastage during Melting of old gold jewellery
- TDS on Dashcam rent and allied services
- Import Order Cancelled.
- GSTR-9C filing
- GST ITC as per notification 12/2023- central tax
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- Form 144 TDS Return Validation Error – Mandatory Fields
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
