I am conducting a statutory Audit of an IT company wherein the sales is subject to Service Tax as well as VAT together. The bill amount cannot be bifurcated between goods and service. There is a single basic value on which VAT as well as Service Tax is applicable.

My Query is that whether VAT should be chargeable only on the (Basic Value)
or
Should it be chargeable on
(Basic Value+Service Tax)?

Dear All,

I have few doubts in billing process. One of my senior officer says, We have to give discount on the amount after charging VAT. But If we give give discount after charging vat then it will be like we have given discount on vat also.

And if it is the correct process then, in vat returns we have to show the vat amount on which bill has been raised.

Can anyone help me out in solving this?

Thanks in advance.

A trader started the busines requiring registration under VAT.the purchase invoice were raised on 30.12.2011 and 31.12.2011 however the Registration(TIN no.) was obtained with effect from 01.02.2012.Will the Dealer be able to claim Input Tax Credit.If No is there any way out?

Hi Experts

Please tell me about work contract act in tamil nadu a company located in sez what is the wct rate, the company liable to deduct tds if yes please tell me the rate of tds.

Dear All

One Trading company (fashion accessories) transfer goods on challan to
another Trading company(pantaloon, reliance etc.) who further sales to
end user (customer).My question is on the first company sales tax
liability , if 2nd company make a Local sale then first company needs
to pay DVAT 12.5 % , and if 2 nd company make inter state sale then
2nd company would book as F- form sale and collect F - Form from the
2nd company. Is it correct ?

or otherwise ..can we consider (local sale) as consignment sale and
do not pay DVAT 12.5 % as 2nd company has already paid DVAT 12.5 % to
deptt. while selling to customer..and in our books we show as
consignment sale and show balance stock (lying with 2nd comp store) as
consignment stock.

I request to my expert colleagues to guide me the right procedure for
2nd company to minimize the sales tax liability.

Thanks & Regards
Saurabh Kumar
Chartered Accountant

Hello,
I am facing a very peculiar problem. I have purchased some goods and piad vat to the selling dealer. However now I have received a notice from the Maharashtra ST Dept that the VAt input credit that i have availed off shall be cancelled and i have to pay the Department as the selling dealer has not deposited VAT collected into the Govt. Treasury.
Can some Expert give me a list of Judgements(High or Supreme) wherein these issues have been discussed and some Judgement passed in favour of Purchasing Dealer.

Hellow sir, i am an ipcc student,I want to know what is the role of a CA in negotiations with suppliers to reduce price???

Hi! We have issued retail invoice instead to TAX Invoice to registered dealer with TIN number in same city. I'm from gujarat. Same has already been submitted in Tax department & we came to know this later i.e. now. This thing happened back in mid of 2011 by mistake of biller. So how can i correct this?

Party to whom invoice is issued is saying that no tax can be claimed by them from department as retail invoice is issued..

Kindly help.

In anticipation of a quick response & solution to this issue,

Thanks....

Hello,
I have just started a snack food manufacturing unit in punjab and want to know VAT rates applicable in Punjab and outsidepunjab like Haryana, Chandigarh, himachal and jammu.
also, how will i charge VAT in invoice while selling my goods to customers in various states?
When will a C-form will be provided by customers?
How will CST be determined and how to deposit CST charged on invoice from customers for out of state customers?

Thanks

notice received from department to default in filling pt returns but there are no operation in the company and no salaries have been paid . but officer has asked to file nil return can anyone tell me the further procedure.....
thanx in advance....