I got the letter from builder to pay the VAT portion @ 2.81% in September 2012, for the flat purchased in 2009 (under construction), possession given in July 2012. VAT issue was informed to us at the time of purchase.

1) In his calculation given below, he has calculated VAT @ 4% & 12.5% .
2) Following is the calculation:
Gross Receipt (after deduction of land cost Rs.37153787) Rs. 242488134 without any deductions in respect of sub contracts expenses & thereafter deducted standard deduction of 30% from the above figure to arrive at the taxable figure of Rs. 169741694. Tax is calculated at 4% - Rs. 4374113.00 & 12.5% - Rs. 6223862 & deducted set off Rs. 2743097, net tax - Rs. 7854878.00 (2.81%) - not able to identify how the % has been taken out?

Queries are as follows:
1)a) How is the VAT calculated without any expenses incurred (on the basis of gross receipts)?
b) Builder has not taken into consideration the expenses incurred through sub contract works?
2) Can builder collect the tax without providing raising an invoice for VAT collected? (Note that builder is giving us the receipt for collection of tax)
3) Builder has to take into consideration the VAT input credit while arriving at the vat taxable portion

Dear Sir,

I would need your valuable suggestion on the below transactions. My co is trading in IT PRODUCTS AND SERVICES. My co is purchasing the extended warranty pack from the vendors. It is works contract in nature; Repairs and Maintenance agreement.My co is not liable to provide any service to customers. My vendor is directly liable to provide service to the final customer. My query is related what is suppose to be my tax treatment as it is an sale of intangible service contract. It is not found to be service as I am purchasing and selling the contract, and no contracts are being arranged at the discretion of customer. There is no commission received by my organisation in this transaction. Here I need your suggestions that being a trader of this intangible service whether I am liable to provide Service Tax or VAT to the customer.

Hi,

Please tell me that if VAT is applicable on food if a person stays and order food in a hotel itself.

Also, please clear the applicability and rates of vat on hotel industry.

Regards
Vivek Bansal

Dear All,

Can entire portion of vat/cst paid on purchase of capital goods be used to discharge the Output VAT/CST liability?

Can CST liability (2% or 12.5%) be discharged by utilising the Input VAT credit?

Can CST paid on Inputs be used for discharge of Output VAT/CST liability?

i made purchases of iron &steel which is taxable at 5% . Supplier charged vat @12.5% erroneosly & I paid total price charged including 12.5% vat.While selling I charged vat @5%. Am i eligible to claim Vat input on 12.5% vat charged by my supplier?

Sir by mistake i had deposited tax on central tax challan form as the tax was to be deposited on local tax challan form.
how can that be rectified .
Is it possible to get it rectified from the bank from where the tax was deposited or is there some other process,
kindly guide me
Thanks and regards

Dear sir,
one of my new clients vat registration commodity was not registered/given only TIN no. is given as Others commodity. he was registered long back. first he registered for Bisleri water supply at the time of registration commodity show as other. 1yer business made after that 6month gap(buss.colsed). business changed for kitchen warehouse equipments (gas Stove, gas safe device sold.it includes CST Purchase also(bus.duration 1.5yrs). after that 4-5 month gap(may be continue in future). now they doing Mobiles Sales business in showroom. presently they r using same TIN no.
pls give me a suggestion
- which commodity i need to add now.
- how to change old address, and add new address (show room in other city).
- what is the documents required to changes.
till date they paid tax as sales is made in monthly basis.

Pls sugget me as well soon... thanks.

Respected Sir/Madam
I have purchased a flat on 24/10/2007 registered on25/10/2007,
we have receive demand letter from builder on 17/09/2012 to pay 5% vat on purchase price to him that we didnot pay, now on 19/09/2012 we have received a letter demanding for 2% Vat on purchase price, with studying the information on this site I come to know that VAT is not applicable on ready possession flat , when I bought the flat it was ready possession ,we have architect letter stating the construction was completed on 29/08/2007 was 100% complete. the property in Thane Maharashtra.
so please advice us do I liable to pay vat on it If no do i need to give written feedback to developer

Your prompt response is highly appreciated
thanking in advance
It will be great if you can mail your answer on vivekdpatil@sify.com

whether Input Credit of VAT is available to a real estate company or not ? further Real estate company can issue C form to avail consessional rate or not ?

PLEASE GIVE ME WHAT IS DIFFERENCE BETWEEN RETAIL INVOICE AND TAX INVOICE

WHAT IS LIMIT OF RETAIL INVOICE