Hi. I am a partner in a firm and having trading activity of importing chemicals.
I was interested in buying artworks and hence started building up a collection since 2010.
In 2013, I realized that I need to sell some artwork so that I can buy new ones and hence sold paintings in auction for 4.5 lakhs
In 2014, till august I have sold paintings worth 7.5 lakhs. My stock would be around 30 lakhs.
In my books I have been showing capital gains.
My charted accountant suggested if I cross 10 lakhs this year then I will have to take mvat registration number.
I would like to know whether that's right?
Or can I sell them and show it as sale of investment. Please do help as there is no clarity

hi,


if i opt for a composition scheme under vat for works contract other than a construction contract charging 8% tax on vat will i be still be liable to pay service tax?

SIR I HAVE AN INVOICE IN MY HAND AND IN THAT SALES IS MADE AGANIST "C FORM" AND AS PER MY KNOWLEDGE WHEN 'C FORM" IS ISSUED AT THAT TIME LOCAL VAT RATE IS APPLICABLE STILL IN INVOICE CST @ 2% IS LEVIED.
SO PLZ GIVE ME CLEARIFICATION ABOUT THIS CONCEPT.

An Agriculture product has been exported to Nepal from India.
Payment received in Indian Rupees
my question is whether this amount will be disallowed under export sale ?
IF then what will be the implication under VAT ? Is there any interest and penalty will charge on this sale amount ?

My company have Two office.
1 Chandigarh
2 Tamilnadu
We have both the state TIN number.

I have imported the goods from China to tamilnadu and then sold the goods tailnadu to all over india. upto july 2014 we have done billing on the address of tamilnadu. and VAT/CST paid to the tamilnadu
department.

but after july 14 we start the billing on chandigarh adress. but our goods movement is same. china to tamilnadu and tamilnadu to other india.

Now My query is.

1 Now which state we pay the VAT/CST and file Return. Chadigarh or Tamilnadu.???

2 second question is if we file/paid VAT/CST to chandigarh department then which form used by us for goods movement from tamilnadu to other india.???

we under Maharashtra VAT Act, turnover exceeds 5 Lacs limit even after vat not collected on sales till the date of registration.

Whether we are liable to pay tax while not registered.

If liable to pay tax what is provision. Shall payable after reducing 5 Lacs limit what is penalty & interest factor.

If vat is liable on these sale then whether input vat on purchase during this period shall be reduced from the liability.

I want know about sale against h form
and what is the procedure in dvat from seller side . would seller be liable to pay any tax for sale against h form

Dear Friend
My client having depot at Bangalore and having manufacturing unit at Pondy. Now we are transferring goods from Pondy to Bangalore through form F and then we are selling local market with applicable local tax. While making local sale my client having the following format of Invoice:

Basic Value of Material 100
ED 12
Total for Sale Tax (A) 112
ST @ assume 14% on A 15.68
Total 127.68
Add:
Freight 10
Insurance 5
Total Value of Invoice 142.68

Now department asking to pay K VAT for entire amount means (100+12+10+5)x 14%

Whether this view is correct or can i argue for exclude freight and Insurance

CA SENTHIL

Hi,
I am starting a new trading business (Propritership firm) in Rajasthan. I would be selling goods across India. What all tax related Registration are required?
Is there anyone who can help/guide me getting these registration done.
What is the difference beteen TIN, TAN and VAT?

SIR,

I WANT TO KNOW PRESENT VAT RATE ON ALUMINIUM FOILS IN DELHI.

(RAKESH SUKHIJA0