Dear friends

can any one clarify assessable value tobe considered in case of interstate inter unit stock transfer.

1) we are registered under Central excise & sales tax as a manufacturer having same manufacturing units in different states like Delhi, Uttarakhand, jarkhand.

2) we are planning to transfer some of inputs (Bought out finish and semi processed inputs) to other units in different states.

3) we are following 110 per cent of the cost of production under rule 8 of the new Valuation Rules,for payment of excise duty and same is shown in our ER1 returns.

4) we are not charging cst as we can get the Form F for the interstate stock transfer.

My query is
A) whether the following calculation for invoice and for sales tax assessable value is correct ?
B) what is the value tobe shown in vat returns ? amount shown in e or f

a) basic price 1000.00
b) add: 10% (rule 8) 100.00
________
c) total 1100.00

d) Excise duty 12.36% 136.00
________
e) total Inv value( a+d) 1136.00
_________
f) Ass Value for ST
Purpose (a+b+d) 1236.00
---------
thanks in advance
ramkumsr ms

Hello everyone,

one of my client is a building contractor- he has starting working on a contract but has not registered MVAT.

Now builder want my client to issue invoice with MVAT. i have applied for MVAT regn but it will take a week to get MVAT no.

My question :
can my client raise invoice with MVAT and if yes then at what rate if he wishes to go for composition scheme ?

Hello everyone,

M/s. ABC & CO (firm) entered into agreement with M/s. XYZ & CO (firm) for construction of residential flats.

They entered into joint venture and decided to share profits and losses equally.

My question :
How to get their MVAT/service tax regitration ?

We had applied for drug licence in Chhattisgarh.

The licence has being issued to Jai Medical (Trade Name which we wanted)and it says issued to Directors of MPR Healthcare Pvt limited for M/s Jai Medical.

How should I get the bill book printed as licence is issued to Jai Medical but company is MPR Healthcare.

Also TIN, Gumasta should be in the name of Jai Medicals or MPR Healthcare Pvt Ltd.

Await a feedback and thanks in advance.

Hi..dear
Good morning
My question is can head office transfer VAT amount 100% to another branch established in another state.
For exam-
Head office in new Delhi purchased in Delhi, stored in Delhi central stores office,After requisition from Branch in MP state issue goods and total VAT amount paid already at time purchase.
Can do this type practice plz suggest as soon as possible.

Dear Experts

We are purchasing Material from Haryana and co is registered with haryana value added tax

question is: if we purchase against vat 4%
then we have to given D1 form to party or not

question 2 is if we purchases against vat 5% or above then we have to given D1 form to party?

Dear sir

I was doing the audit of a shipyard situated in goa. There I found that when the contractee of ship is billed VAT is charged on 70% of invoice value and service tax is charged on 33% of invoice value

I wanted to know how that is possible because 70+33=103

Regards

Prajot

The buyer and seller are within the state of TamilNadu. The buyer orders to deliver the material at Gujarat state. The seller (in TamilNadu) raises a sale invoice on the buyer (in TamilNadu) with shipping address of Gujarat. Whether the seller should charge VAT because the buyer is in the same state (OR)should charge CST because the goods are moved outside the state of TamilNadu. Please reply.

We have alot of refunds for the past 4 years due to exports


We are advised by Delhi VATO for a VAT Audit

Please advise what do we need to prepare in advance to have hassle free Audit

We already submitted the 2A/2B and Form 30/31 for Sales Purchase


Please advise additional preparations besides 2A/2B , Form 30/31

In many of the cases the Vat is not mentioned in the bill by the petrol bunk.

I just want to know the reason as why it is so?

Is Vat credit on petrol, diesel, etc. allowable?

Please reply.

Thanks in Advance.