Can anybody tell me is it compulsory to claim the rest of 2/3 part of vat amount in the same month in which the dealer has originally bought the goods.

for eg if dealer had purchased on sep 2011 with a vat amount of rs 4500 and claimed 1/3 i.e Rs 1500 in the ay 2011-12.

can dealer claim next 1/3 i.e Rs 1500 in the first qtr of ay 2012-13 or he should wait for the month of September for claiming the vat input

Can be claim input tax credit in UPVAT on office furniture purchased for use in business. If so, how

Sir, my friend purchase flat in 2009. flat is ready possession flat. Please tell me whether he applicable to pay 5% vat which is charged right now? or if yes then on which amount he need to pay vat. full amount of agreement or part of it?

Audit report was submitted for 08-09 & 09-10 with J1, J2 as applicable under MVAT Audit in Maharashtra VAT. TIN Nos. put in J1, J2 were not proper as the concerned dealers have not informed the change in TIN because of change in constitution during the period.
resulted in mismatch for ITC.
Whether J1, J2 for the audit reports already submitted can be changed now?
What is procedure? whether any permission is to be obtained from Dept. Or any application is to be submitted for resubmitting the J1 J2.
Expect reply at earliest convenience of experts. Thanks.

if anyone having mohd Rafi's latest addition then can he/she explain the solution of VAT EX-4 & 5.given on page 598 & 599.
Basically problem I am facing is the proportionate allowance of ITC of 16000 & 5000.
I am posting the question in general--
Mr sony a VAT dealer is engaged in the manufacture of various products.the dealer is manufacturing two separate product X & Y wherein the dealer makes taxable sales of product X & product Y is meant for both taxable sales as well as stock transfer.

purchases(VAT excluded in all cases)
1.4% goods of Rs 200000,VAT RS8000,being used for taxble sales
2.4% goods common for taxable & exempted goods Rs 400000,VAT Rs 16000
3. 12.5% goods specific to taxable sales Rs32000,VAT Rs 4000
4.12.5% goods common for taxable & exempted sales Rs 40000 & VAT Rs 5000


sales (VAT exluded)
1.4% goods value 150000,VAT 6000 used in product x only
2. 4 % goods value 300000 VAT 12000 used in sale of product X & Y
3. exempted other transaction value 150000,VAT NIL used in stock transfer to state.

ANSWER AS given - 12800 ITC to be carried forward next month.kindly explain the proportionate ITC allowance
Regards

x party is in bangalore and bought material from y party which is in Hubli, x party wants to sell this material to z party which is in mangalore. since the movement of goods is not feasible for x party to bring material to bangalore and then send to mangalore. kindly advice on the matter.

what to do if there is cancelleation of vat no due to non filing of return can it possible to resore the same
and if yes how

sir i want to know that credit allow or disallow on diesal in himachal prasdesh

What should be the accounting entry if a customer instead of giving C form pays the differential amount in the same or next financial year....?
Please give the accounting entry..

We need to determine the price of a product and the tax liability on it. Below is the scenario:

We manufacture security system which we sell to our dealer at Rs 6000 + VAT @ 12.5 % Rs 750 = Rs. 6750

Now the Dealer Price is Rs 6750. Dealer margin is 10% on 6750 i.e Rs 675. So total 6750+675=7425
Dealer sells it to customer at 7425 + 12.5% VAT Rs. 928 = 8353.

Now we deposit tax of Rs 750 to IT department
And dealer deposits tax of Rs. 928 on same product.

Is this correct. Please explain using these figures. We are very confused about the price point of the product

Thanks Neeraj. I have an additional question in that case.
When my Dealer is raising a bill for customer what should be the amount of it:
7425+928 = 8353
or
7425+178 (928-750)=7603
which one is legally correct?