We found a contradiction of provision as provided in Sec13 (7) read with Sec 4(7)(a) and Rule 17(1) (g).

“Sec 13(7) states that where any VAT dealer pays tax under clause (a) of sub-section (7) of Section 4, the input tax credit shall be limited to 75% of the related input tax”

“Sec 4(7)(a) reads as under
“Notwithstanding anything contained in the Act;-
a) Every dealer executing works contracts shall pay tax on the value of goods at the time of incorporation of such goods in the works executed at the rates applicable to the goods under the Act:
Provided that where accounts are not maintained to determine the correct value of goods at the time of incorporation, such dealer shall pay tax at the rate of specified in schedule V on the total consideration received or receivable subject to such deductions as may be prescribed”


“Rule 17(1) (g) of AP VAT Rules state where the VAT dealer has not maintained the accounts to determine the correct value of the goods at the time of incorporation he shall pay tax at the rate of (14.5%) on the total consideration received or receivable subject to the deductions specified in the table below: In such cases the contractor VAT dealer shall not be eligible to claim input tax credit and shall not be eligible to issue tax invoices”

My query is whether the contractor not maintaining the books of accounts can utlise the 75% input tax credit or not as per the above provisions?

Kindly clarify me at the earliest.

A IS SELLER FROM GUJARAT WHO SELLS GOODS TO BUYER B IN MAHARASHTRA FOR RS 10000/- PLUS CST @ 02% RS 200/-IN THE MONTH OF JUNE-13. SELLER A PAID CST TO GUJARAT GOVT FOR CST RS 200/- FOR JUNE-13

NOW AGAIN SELLER FROM GUJARAT SELLS GOOS FOR RS 50000/- @ 02% CST FOR RS 1000/- TO NEW BUYER-C IN MAHARASHTRA IN THE MONTH OF JULY-13. ASLO BUYER A FROM MAHARASHTRA WHO BOUGHT GOODS IN JUNE-13 RETURNED THE SOLD MATERIAL TO SELLER OF GUJARAT.

NOW WHAT WILL BE CST LIABILTY FOR JULY-13 FOR GUJARAT DEALER WHO SALES THE GOODS


WHAT IS THE EXCACT RULE OF SALES GOODS RETURN RULE UNDER CENTRAL SALES TAX FOR TAKING INPUT CREDIT OF CST FOR PAYMENT OF CENTRAL SALES TAX FOR GOODS RETURN UNDER CST ACT. CAN WE TAKE INPUT OF CST FOR PAYMENT OF CENTRAL SALESTAX

When a Dealer makes a sale under VAT less than the rate he has received and in turn his supplier issues Credit note for the loss as Discount without any Tax breakup, Will this
Discount attract Vat? in Karnataka

dear sir,last month dc visited our shop and found that stock has been sold but bill not issued.so he imposed penalty rs 5000 and collected tax of goods sold but bill not issued.please advice me that how to show this tax in vat return and sale of goods.later i have issued all the bills on that date and accounted the same.

Purchased Packing Materials:
Packing Material Rs.5,00,000/-
Add: VAT @ 5% Rs. 25,000/-
Total Rs.5,25,000/-

Total Sales Rs.60,00,000/-
F Form Sales included in above Rs. 30,00,000/-
12.5% Sales Rs. 30,00,000/-
Add: VAT @ 12.5% Rs. 3,75,000/-

Output VAT Rs. 3,75,000/-
Input VAT for Setoff ???????
Retention ???????

Please guide with Calculation...

Hi!


can anyone help me about VAT & WCT applicability in event management firm.is it necessary to take VAT no.for the firm.and also tell me if we are contracting with another company or party to held a program by call a DJ from abroad to performing in India,than in case of contracting with them only TDS(Contract)apply or is WCT applicability there???


And also you can ans.me at my Email:kehkashan@whitefoxindia.com



Regards,
Kehkashan Hussain

is vat registration required with IEC REGISTRATION FOR EXPORT BUSINESS IN HARYANA URGENT REPLY PLZZ..

Reg: Mumbai - Maharashtra-VAT

Our client is a Pharma-Pvt. Ltd.Co.
they have sold motorcar & has charged VAT
to buyer,so they will have to pay this
collected VAT to dept
but in the same year they also have purchased a new car on which they have paid
VAT as also Entry Tax on this car
can we claim set off of this payments
from vat collected on car sale
Please guide
Thanks

is tin number registration similar to e registration of vat under ctax website in karnataka.

do company send details of all super distributors billings to vat department. or super distributers can omitt certain bills in there vat returns to save vat recieved from micro distributors