We are online retail seller in delhi, and we are offering discount coupan in flat rate like (Product cost is 500 and we are offering discount coupan Rs.400/- Net sale Price is Rs.100) plesae advise which amount we charge vat Rs.500 or Rs.100

Please Note:- we sale product in loss (Like purchase cost Rs.500 Sale Cos Rs. 100).

Whether a tax invoice can be issued to unregistered Dealer ?
If Not, then whether tax will be shown separately in sale invoice ?

What is E-1 purchase and sale pls. define in brief

Dear Sir

We have a Proprietorship Firm which is covered under DVAT Act.

The returns upto Q3 F.Y.13-14 had been filed regularly.

When we were filing DVAT Return for the Q4 F.Y.13-14, we got to know that the firm has been come in the CANCELLED CATEGORY LIST in the list provided by the department online.

We are now, UNABLE TO FILE RETURN FOR F.Y.2013-14 Q4.

What should be done by us in case of above case?

Thanks in advance

Mumbai based Limited liability partnership (LLP).
Advance given to suppliers, can we claim Input VAT Credit on advance payment to suppliers made in 2013-14, till this date we didn't received tax invoice.

A dealer in Hyderabad purchased goods worth 90 lakhs(excluding VAT) and manufactured finished goods worth 160 lakhs in december. It received an order for the finished goods from its Bangalore BRANCH in January. input VAT rate 12.5% output VAT rate 4% Compute the amount of Input tax credit available and Net VAT PAYABLE. please solve and explain this thanks

IS A BUSINESS CAN ALSO CHARGE VAT ON SALE OF ASSETS ALSO ALONGWITH SALE OF GOODS. IF YES WHAT WILL BE THE RATE OF VAT. IS IT SAME RATE AS CHARGED BY A PERSON WHO IS DEALING IN SUCH GOODS WHICH ARE SOLD AS ASSETS.HOW THIS SALE OF ASSET ON WHICH VAT IS RECEIVED IS DISCLOSED IN VAT RETURN .IN WHICH LS IT WILL BE TAKEN.

WHILE MAKING PAYMENT OF VAT IS VAT IS TO BE PAID ON PURCHASE PRICE PLUS EXCISE DUTY AMOUNT.IF SO THEN THERE IS DOUBLE TAXATION (VAT ON EXCISE DUTY).WHAT WILL BE THE ACCOUNTING ENTRIES IN BOOKS OF BUYER & SELLER FOR ENTIRE TRANSACTION INCLUDING PURCHASE/SALE PRICE,VAT & EXCISE DUTY.

PLEASE HELP IN THIS REGARD. I HAVE A LOT OF CONFUSION REGARDING THIS MATTER.

Dear Respected Colleagues,

I have been raised a query from one business house.

They have made Purchases of furniture and fixtures and other office equipments from MVAT Registered Dealers. The purchases are in the basic nature of leasehold improvements for their new office.

The entity does not wish to claim the input vat as refund and accordingly have filed their mvat returns. The entity is a registered dealer but does not have any MVAT payable transaction.

The query is as per S 61 of MVAT Act, it is the turnover of either purchases or sales crossing 60 lakhs. Hence, in this case, even though VAT purchases are crossing 60 lakhs, is the entity liable for MVAT Audit?

Please respond.

Thanks in Advance

CA Jayesh Kulkarni

Dear all

please tell me what is VAT RATE on MEMORY CARDS.or where i can see it.