Whether VAT Input Credit for FY 12-13 and FY 13-14 can be carried forward to next FY adter availing the set off against the output tax payable .

For how much period the VAT input credit can be carried forward ???

Dear Experts,
Intelligence people had visited one of my client's place and found that the physical stock is less than stated in books by Rs. 2 Lakhs. They contend it as sale without bills.

They had collected the VAT cheque of Rs. 29000/= and Penalty cheque of Rs. 5000.
What entries are required to be passed for stock adjustment and whether VAT paid can be claimed as expenses.

Dear Friends,
One of our client is executing works contract. He runs his business in Karnataka under Karnataka TIN. He has purchased some materials from Mumbai using Karnataka tin (CST). and started his work in Mumbai itself. The goods has not entered Karnataka itself . So, please guide me where the VAT has to be paid . Is it in Karnataka or Maharastra.

Thanks in advance

Dear Experts,

One of our client is a Modular Kitchen Contractor for new constructions only.

His contract terms include Complete Supply, fabrication, assembling, installation of Modular Kitchen at Site for a Contract Price (Composite price incl. Labour and Material - no breakup).

Location - Maharashtra

Purchase - No breakup of Contract wise Labour is available, hence difficult to adopt Actual Deduction Method. Purchase of Materials are 90% towards 12.5% items and 10% towards 5% items

MVAT Option adopted - Standard Deduction @ 25% towards Labour portion. 75% taxable value for material for payment of VAT

Query:
1. For Service Tax purpose, can we consider this 25% of Std. deduction of VAT as labour charges and pay Service Tax @ 12.36% on the same ?
2. Whether the Material Value i.e. 75% on which VAT has been paid can be considered as Actual Material Value for deduction in the light of Rule 2A - Determination of Tax. Value for Works Contract
3. If no, kindly advise the best method under VAT and Service Tax to have minimum tax liability
4. What is the VAT Rate to be charged on Modular Kitchens under WC for Mahrashtra ?

please advise at the earliest
Many Thanks for your response

Request for help on these:
Is electrical goods exempt from entry tax in Karnataka?
If no, is entry tax payable on goods purchased for use in execution of a works contract?
What should be the VAT rate to be charged to the recipient of works contract service for supply of material purchased outside Karnataka by paying CST @ 2%

Dear Sir,

Our branch office is Pune - Maharashtra & Bengalor (Karnataka)we have grab order from Belgav (Karnataka) which is near to Maharashtra. To supply Panel Vat rate in Karnataka is 14.5 However in Maharashtra its 12.5%. Can we supply Panel from Maharashtra and save 2% or its mandatory to supply goods from Karnataka only.

Regards,

Laxmikant Tangade

Respected Sir/Madam,
I have a query that In which method I adjust Vat with Cst,
For ex. 30.04.2014 I have excess in input vat Rs.15900/-- current month excess Rs.24000/--, output Rs,20000/-- Cst Adjusted 4173/--, in cst form I which place I put the amount to show that I adjust the cst amount with WB Vat

Kindly assist me sir
Thanking you
Debojyoti Dhar

What is high sea sales. ? can output tax be availed for the same.? is this covered under karnataka vat only ?

Dear Sir


ours is GOM undertaking engaged in manufacturing of fert,pest etc.

we have floated tender for civil work such as steps to godown ,entry gate etc

pl guide

1. whether MVAT is applicable for this civil work
2. if yes then whether contractor will pay the amount or we have to recover from his bill and @ what rate

regards

Satish

Can we take input tax credit on purchase made from GRN dealer???