Hello experts,

Our company manufactures machinery and sell it @6.05% in Punjab and @2% against form 'C' out of Punjab. Except other raw materials which is purchased @6.05%, we also use electric motor, ac drives and other electrical items purchased @14.30% for this machines. So the query is:

1. Can we claim / deduct (ITC) full tax of 14.30% of electrical items used for such machinery, even though we are selling the machine @6.05% vat or 2% cst.

2. Also, can we claim / deduct (ITC) full tax in case where we use such electrical items in our factory for our machinery [used in production and not being sold].

We are newly entering in Construction Business. Which nature is construct building and sold flats of it. I have query regarding when we have purchasing material for building construction(like.cement,steel &etc) and on which seller charges VAT to us. Is there get any benefit or setoff of that VAT to us. Should we treat that as a INPUT Vat while accounting.

We have made a sale to chennai party in the month of Aug.2013. Now the party is denying to give the C form and tell us that they are ready to pay the Tax, that arrived for calcualtion of C form. My question is whether the Interest is to be calculated from the date of sale till 31/03/2014 or only the Tax amount has to be collected from the party. Please suggest?. Thanks

Respected experts, I want to know that if input tax credit for VAT on mobile n telephone purchase is available for trader/manufacturer in delhi as capital goods or not or it is included in the negative list of capital goods.

Can a company avail vat credit on LPG used in their mfg process & canteen, both?

I am based Delhi,I have a supplier in Gujarat, I get stocks by c form and I am reselling to other states .

Now I want to change my base to Gujarat to logistics benifits.

If my suppliers bills me locally by vat and I resell to other states i have a additional cost of vat in Gujarat .

Is there any other way I can get billed other than VAT.

whether or not submitted the vat audit report for exempted goods(salt) in respect of following case?

the partnership firm runs salt manufacturing business and sales to industrial company for the period of 2012 - 2013,which is turnover 2,50,00,000

what is vat reconciliation? and how to do this in excel sheet.please let me know with proper example

I have a query how to calculate VAT in case of Subsidy.
For example, Mr.A is purchasing goods worth rs.1,00,000 by paying CST. He has received subsidy from state government for the said transaction for rs.30,000. He sells goods to intra state registered dealer. Whether he should charge VAT on Rs.1,00,000 and then give credit note for the subsidized amount i.e. Rs.30,000. Or he can Net off the amount and can charge VAT on Rs.70,000(1,00,000-30,000)?

Please, Assist for the same.

Regards,
Vijeta

Hello,
We are dealing in E-Commerce business. We have a process of generating the invoices electronically. Presently in our brand we are maintaining two types of invoices- Tax invoice and Retail Invoice. These both invoices are generated within the same series. Suppose my first 100 invoices contains first 15 invoices of Tax then 16 & 17 Invoice of Retail and again 18 & 19 invoice of Tax and so on. Now i wanted to knw that do we need to maintain different series for Tax invoices and Retail invoices.